In a move signaling a significant step towards clean energy adoption, Chinese wind turbine maker Envision Energy has formed a strategic joint venture (JV) with Saudi Arabia’s Public Investment Fund (PIF) and Vision Industries. 

This collaboration aims to accelerate wind power development across the Middle East, supporting the region’s transition to a more sustainable future.

The JV will focus on establishing a regional manufacturing and assembly base for wind turbines and key components like blades, nacelles, and hubs. This aligns with Saudi Arabia’s ambitious National Renewable Energy Program, which targets 75% localization of renewable energy components by 2030. 

Envision will hold a majority stake in the venture, leveraging its expertise in smart wind turbine technology, energy storage solutions, and green hydrogen production.

PIF, a leading global investor with a strong focus on sustainable development, brings its robust financial resources. Their choice of Envision as a partner reflects the company’s two-year reign as the top wind power order recipient globally, solidifying its position as a critical player in the ongoing energy transition.

PIF said in a statement: “Globally, PIF chose Envision as its JV partner due to Envision’s leading position in green power, encompassing smart wind power, energy storage systems and green hydrogen solutions that address the challenges of climate change.”

“The company has topped the wind power order intake for two consecutive years, making it a key player in the worldwide energy transition.”

Last year, Envision Energy secured a 1.67GW wind turbine supply contract from Air Products for the NEOM Green Hydrogen Company, a joint venture involving Acwa Power, Air Products, and NEOM.