PVH addresses solar energy financing challenges in MENA and climate change threats

16/10/2023

PVH Summit KSA

PVH Middle East was honored to host the PVH Summit, a prestigious event held at the luxurious Ritz-Carlton Hotel in Jeddah, and organized in collaboration with Citi. The summit, titled “The Clean Energy Transition: KSA 2030 Challenges and Vision”, brought together some of the most influential figures in the solar and renewable energy industry in the Middle East. This gathering marked a pivotal moment in the journey towards a sustainable future, shedding light on the Kingdom of Saudi Arabia’s pivotal role in shaping the new global energy landscape.

Omar El Duraie, Managing Director at Citi, honoured us by conducting the event, which opened with welcoming speeches from Said Istambuli, Vice Chairman of PVH Middle East, Youssef El-Sayed, CEO of PVH Middle East, and Iván Higueras, Chairman of PVH and CEO of Gransolar Group. Their addresses outlined PVH’s significant contributions to the development of solar Energy within the Kingdom of Saudi Arabia and the MENA region.

Financing challenges in energy transition

Keynote speaker Jason Channell, Head of Sustainable Finance at Citi, delivered a powerful presentation titled “Clean Energy Transition: Global Outlook and Challenges for the Middle East”. Channell tackled critical questions surrounding the transition to clean energy and the challenges of its financing. In a detailed presentation, he suggested that private capital would need to play a pivotal role in the financing of the coming mega projects in the region, and raise the stakes to over 2 trillion USD in the coming years. He also explored the current status of the power sector and renewable energy targets in the MENA region, emphasizing the potential of Green Hydrogen (H2) in the area, setting the stag