Saudi Electricity Company Signs Strategic Agreements at FII9 to Enhance Power Sector Efficiency, Sustainability

The Saudi Electricity Company (SEC) has signed multiple strategic agreements with leading local and international financial and technology institutions, with a total value exceeding $4 billion, on the sidelines of the ninth edition of the Future Investment Initiative (FII9) held in Riyadh.

These agreements aim to enhance the efficiency and sustainability of the Kingdom’s power sector by diversifying funding sources, improving working capital efficiency, and accelerating the implementation of strategic electricity and infrastructure projects.

The move reflects global confidence in SEC’s financial strength and its pivotal role in enabling the national power industry, in line with the Kingdom’s Vision 2030 development goals.

In a step that highlights strong international confidence in SEC, the company signed a $3 billion international financing agreement with a consortium of leading global banks, including: Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Agricultural Bank of China, Barclays Bank, China Construction Bank, China Guangfa Bank, China Minsheng Bank, Dubai Islamic Bank, Emirates NBD Bank, HSBC, Industrial and Commercial Bank of China, ING Bank, The Bank of East Asia, and China Merchants Bank.

The agreement will strengthen SEC’s liquidity position and broaden its global financing base to support large-scale projects in power generation, transmission, and distribution across the Kingdom.

SEC also signed a $1 billion Export Credit Agency (ECA) framework agreement with Swiss Export Risk Insurance (SERV) and Standard Chartered Bank (SCB) to support its strategic initiatives through ECA-backed financing, with a focus on enhancing Saudi and Swiss content in project execution and improving the company’s capital efficiency.

In parallel, and as part of its ongoing efforts to drive digital transformation and enhance supply chain efficiency, SEC has announced an innovative Supply Chain Financing (SCF) program in partnership with "Manafa” Financing, a leading Saudi FinTech company permitted by Saudi Central Bank (SAMA) Regulatory Sandbox to test its SCF solutions, and “SAP Taulia”, a global leader in working capital management solutions and part of the SAP Group; and in strategic partnership with the Saudi Industrial Development Fund (SIDF) as a primary financial enabler supporting the development of the industrial sector in Saudi Arabia.

This program introduces innovative digital working capital optimization solutions that allow buyers to extend payment terms while enabling suppliers to receive early payments, as part of SEC’s ongoing efforts to digitize supply chain management and automate procurement processes to boost efficiency and transparency.

The program announcement ceremony was attended by SIDF CEO Prince Sultan bin Khalid bin Faisal, SEC CEO Eng. Khalid Alghamdi, and Manafa CEO Abdulaziz Aladwani, along with other several senior executives.

Collectively, these agreements reaffirm SEC’s commitment to expanding its international partnerships, adopting innovative financing solutions, and enhancing its capacity to deliver major electricity projects that strengthen service reliability and sustainability, in alignment with Saudi Arabia’s Vision 2030 and its national development priorities.