Saudi Arabia and Syria have signed a series of strategic investment agreements covering aviation, telecommunications, and infrastructure. Minister of Investment Khalid Al-Falih led a high-level delegation to Damascus to meet with President Ahmad Al-Sharaa. The deals include a major redevelopment of Aleppo International Airport and the creation of a new joint airline with Flynas. STC will lead efforts to modernise Syria's digital infrastructure while ACWA Power explores a large-scale desalination project.
A new joint venture in Saudi Arabia has secured its first landmark deal to provide 2.25 GW of smart solar trackers for the Bisha Solar project. Nextpower Arabia, formed by Nextpower and Abunayyan Holding, will supply the equipment to Larsen & Toubro for the massive utility-scale plant in Asir Province. The move supports the Kingdom’s National Renewable Energy Program by shifting manufacturing and supply chain operations to local soil.
ACWA Power and Bapco Energies have entered into a Joint Development Agreement for a major solar power plant situated in Saudi Arabia's Eastern Province. Announced at the Saudi–Bahraini Coordination Council meeting in December 2025, the project’s initiative is to support Bahrain's national energy needs and accelerate its shift to renewables, while reinforcing its role as a regional energy export hub.
ACWA Power has secured $3.4 billion in financing to develop two major gas-fired power plants in Saudi Arabia, adding 3.6 GW to the grid as electricity demand grows.
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