Red Sea Global installs 750k solar panels in massive boost for renewable energy drive

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RSG is set to achieve 100 percent grid independence (SPA)
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RSG is set to achieve 100 percent grid independence (SPA)
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RSG is set to achieve 100 percent grid independence (SPA)
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RSG is set to achieve 100 percent grid independence (SPA)
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Updated 08 July 2023
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Red Sea Global installs 750k solar panels in massive boost for renewable energy drive

  • RSG is also implementing the world’s largest battery storage facility at a capacity of 1,200 megawatts per hour, which will enable the company to achieve 100 percent grid independence

RIYADH: Red Sea Global has announced the installation of 750,000 solar panels in a huge boost for the development’s sustainability drive.

The giga-project has also constructed five solar stations as it gears up for the first phase of its opening, which will see 16 hotels, retail, and entertainment venues come online and powered entirely by renewable energy.

RSG is also implementing the world’s largest battery storage facility at a capacity of 1,200 megawatts per hour, which will enable the company to achieve 100 percent grid independence. 

The tourist destination is set to operate 50 resorts by 2030, with up to 8,000 hotel rooms and over 1,000 residential buildings spread across 22 islands and six inland areas.   

Along with the giga-project of NEOM, RSG has put sustainability as a key tenet of its development, in line with Saudi Arabia’s target to reach net-zero for carbon emissions by 2060.

John Pagano, the CEO of RSG, said ensuring that the world’s largest tourism destination is fully powered by renewable energy falls within such commitment, according to the Saudi Press Agency.

Pagano added that the installation of electroluminescent panels at the five solar stations had been completed as part of the first phase of the Red Sea Project, and the complete independence of the venture from the national grid makes it not only the largest, but also the first of its kind in the world.

All vehicles transporting visitors to the Red Sea Tourism Project will be fully powered by solar energy, starting with their arrival at the Red Sea International Airport and continuing through their movements within the sites and between the nearby islands.

According to the SPA, RSG is also investing in human capital, and has provided vocational training scholarships to 500 people in cooperation with the Human Resources Development Fund, of which 50 people have received training in renewables. 

The company aims to provide specialized training to a total of 10,000 Saudi citizens by 2030.

Alongside this, RSG is working to ensure half of its workforce are Saudi nationals.  

In May, while speaking to Arab News on the sidelines of Arabian Travel Market 2023 in Dubai, Tracy Lanza, global head of brand development at RSG, revealed the company was edging closer to hitting that target.  

“The goal is 50-50 and we are nearly there, and I can say from a marketing standpoint, our team is at 67 percent and growing. We also have the largest percentage of Saudi women, I think, at the company,” said Lanza.


Closing Bell: Saudi main index rises to 10,894

Updated 13 January 2026
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Closing Bell: Saudi main index rises to 10,894

RIYADH: Saudi Arabia’s Tadawul All Share Index extended its upward trend for a third consecutive day this week, gaining 148.18 points, or 1.38 percent, to close at 10,893.63 on Tuesday. 

The total trading turnover of the benchmark index stood at SR6.05 billion ($1.61 billion), with 144 listed stocks advancing and 107 declining. 

The Kingdom’s parallel market Nomu also rose by 81.35 points to close at 23,668.29. 

The MSCI Tadawul Index edged up 1.71 percent to 1,460.89. 

The best-performing stock on the main market was Zahrat Al Waha for Trading Co., with its share price advancing 10 percent to SR2.75. 

Shares of CHUBB Arabia Cooperative Insurance Co. increased 8.27 percent to SR23.04, while Abdullah Saad Mohammed Abo Moati for Bookstores Co. saw its stock climb 6.17 percent to SR50.60. 

Conversely, the share price of Naseej International Trading Co. declined 9.90 percent to SR31.48. 

On the announcements front, Arabian Drilling Co. said it secured three contract extensions for land rigs with energy giant Saudi Aramco, totaling SR1.4 billion and adding 25 active rig years to its backlog. 

In a Tadawul statement, the company said one rig is currently operational, the second will begin operations by the end of January, and the third — currently suspended — is expected to resume operations in 2026. 

Since November 2025, Arabian Drilling has secured seven contract extensions amounting to SR3.4 billion, representing 55 committed rig years. 

The three contracts have durations of 10 years, 10 years, and five years, respectively.

“Securing a total of SR1.4 billion in new contracts and expanding our backlog by 25 rig-years demonstrates both the trust our clients place in us and our ability to consistently deliver quality and reliability,” said Ghassan Mirdad, CEO of Arabian Drilling, in a statement. 

Shares of Arabian Drilling Co. rose 3.15 percent to SR104.70. 

Separately, Alkhorayef Water and Power Technologies Co. said it signed a 36-month contract valued at SR43.35 million with National Water Co. to operate and maintain water networks, pumping stations, wells, reservoirs, and related facilities in Tabuk. 

In October, Alkhorayef Water and Power Technologies Co. announced it had been awarded the contract by NWC. 

In a Tadawul statement, the company said the financial impact of the deal began in the fourth quarter of 2025. 

The share price of Alkhorayef Water and Power Technologies Co. declined 0.49 percent to SR120.70.