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.
Blackstone Energy Transition Partners has agreed to acquire the American electrical manufacturer Arlington Industries. The deal, announced in late January, sees the global investment giant take control of a company with a 75-year history of producing fittings and enclosures. Arlington's products are central to the infrastructure of data centres and industrial facilities across the United States.
The National Debt Management Center has secured a USD 13 billion syndicated loan to fund essential utility projects across Saudi Arabia. This seven-year arrangement is designed to support the development of power and water infrastructure. It aligns with the Kingdom’s Medium-Term Debt Strategy which focuses on diversifying funding sources. The capital will be directed toward development and infrastructure initiatives tied to the Saudi Vision 2030 economic plan.
Saipem has secured a significant offshore contract valued at approximately 425 million USD for the Sakarya gas field development in the Black Sea. The agreement with Turkish Petroleum OTC involves the extension of the third phase of the project to include the recently discovered Goktepe field. This expansion requires the installation of 153 km of pipelines and subsea structures at depths of 2,200 meters. The project aims to increase production capacity to meet growing energy demands.
The IPO of Action Energy Company concluded with exceptional results, seeing subscription coverage reach KWD 276 million earlier this month. Managed by National Investments Company, the offering was more than five times oversubscribed, showing strong appetite for Kuwaiti energy assets. Shares were priced at 212 fils each, with trading having already begun on the Premier Market of Boursa Kuwait on 17 December 2025.
Roadside Real Estate is set to acquire Gardner Retail for approximately £17.8 million, marking a major strategic move into the petrol forecourt sector. The deal involves six high quality sites in Southwest England that generated £33.9 million in revenue last year. Roadside will fund the acquisition by expanding its existing debt facility with Tarncourt Properties. This transaction is expected to be immediately earnings accretive and serves as a foundation for further consolidation in the roadside retail market. The company has already paid a multi million pound deposit with completion scheduled for early 2026.
![[IRHM] logo](https://irhmagazine.com/wp-content/uploads/2025/08/IRHM-AWARDS-2025-1024x683.jpg)
