Asia | May 16, 2025

$14 B energy deals boost US-Saudi ties

Major US-Saudi energy deals highlight the strategic role of investment in driving shared growth, clean power goals, and advanced energy technology.

 

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USA / Saudi Arabia: In a landmark announcement, GE Vernova unveiled up to $14.2 B in energy initiatives supporting Saudi Arabia’s electricity generation and grid modernisation. The deals were announced during a pivotal meeting between Saudi Crown Prince Mohammed bin Salman and US President Donald Trump.

Already, around $2 B in projects are confirmed or reserved as of the first quarter of 2025, with further agreements anticipated over the next four years. These efforts align with Saudi Arabia’s Vision 2030 and its long-term ambition to achieve net-zero emissions by 2060.

Key collaborations include:

  • Saudi Electricity Company (SEC): GE Vernova will provide US-built gas turbines and equipment to enhance grid stability, along with maintenance and repair support.
  • Principal Buyer: Memorandums of Understanding cover future equipment orders, carbon capture advancements, and investments in workforce training and research.
  • ACWA Power: Framework agreements target high-efficiency turbine deployment and electrification projects.
  • Aramco: Contracts focus on sustaining power plant reliability through spare parts and service agreements.

These initiatives aim to enhance Saudi Arabia’s energy resilience and fast-track its clean energy transition, while strengthening cooperation with US energy manufacturing and innovation sectors.

“We are proud to support both nations in driving energy security and economic progress,” said GE Vernova CEO Scott Strazik, affirming the company’s commitment to expanding capabilities and jobs across borders.

Source: Solar Quarter