On March 11, 2025, local time in Riyadh, PCG Power's Chairman Li Wenxuan and Vice President Zhu Jianran paid a visit to the Embassy of the People's Republic of China in the Kingdom of Saudi Arabia. They held work talks with He Song, Minister-Counselor for Economic and Commercial Affairs, and Yu Jiefei, Head of Economic Department of Economic and Commercial Counselor's Office. Their in-depth exchanges covered development opportunities for Chinese renewable energy enterprises in Saudi Arabia, paths to deepen China-Saudi Arabia economic and trade cooperation, and the strategic alignment between Saudi Vision 2030 and China's Belt and Road Initiative. A number of important consensuses were reached.
Chairman Li Wenxuan expressed heartfelt gratitude to the Chinese Embassy in Saudi Arabia for its sustained, all-around support in helping Chinese enterprises explore the Saudi market. He said, as China's leading provider of integrated green energy services, PCG Power has embraced a strategic guideline of "technology-driven and global presence", establishing core competitiveness across the industrial chain in solar photovoltaic power generation, energy storage systems, and smart energy management. The energy transition target outlined in Saudi Vision 2030 is highly consistent with PCG Power's strategic direction. Looking ahead, PCG Power plans to leverage Saudi Arabia's favorable policy for renewable energy and its advantages in technology, model, and experience to create a clean energy ecosystem across the entire chain of power generation, storage, and consumption with partners from Saudi Arabia. This collaboration aims to support Saudi Vision 2030 while providing a Chinese solution for regional sustainable development.
During the talks, the two sides engaged in practical discussions on issues such as Saudi Arabia's investment policies, localized employment mechanisms, and cross-border financial facilitation. Committed to principles of shared growth through discussion and collaboration, PCG Power plans to deepen its presence in the Middle East under the embassy's guidance, and promote the synergy between the Belt and Road Initiative and Saudi Vision 2030 through high-quality cooperation, contributing strength to global climate governance and the development of the green economy.
Background Information: Saudi Vision 2030
As a comprehensive reform plan promoted by Saudi Crown Prince Mohammed bin Salman, Vision 2030 aims to transform Saudi Arabia into a global investment hub connecting Asia, Africa, and Europe through economic diversification, social openness, and industrial modernization. Its energy strategy clearly states that by 2030, the proportion of renewable energy power generated will be increased to 50%, and carbon neutrality will be fully achieved by 2060. In recent years, through ambitious mega-projects like NEOM, Saudi Arabia has continuously unleashed market opportunities worth trillions of dollars, providing a historic opportunity for Chinese enterprises to participate in the sustainable development of the Middle East.
