UK green investment draws attention of Saudi business

Alfanar, one of the largest manufacturing firms and green technology specialists in Saudi Arabia, recently outlined a strategy to invest billions in green infrastructure projects here in the UK.

The plans include a £1 billion sustainable aviation fuel (SAF) production facility, which is now in its design phase.

Just as wealthy investors from abroad see opportunities here in the UK, British consumers often find attractive assets they can profit from overseas. Individuals and enterprises seeking foreign investment advice in Shropshire, Derbyshire and other UK counties sometimes look to wealth management companies for expert and independent guidance.

Alfanar describes itself as the Arab region’s first ever venture philanthropy organisation. The Saudi-based renewables operation has confirmed its plans to make multiple green project investments throughout the UK, commenting that the overall price would produce a “multi-billion-pound” windfall for British low-carbon solutions.

The first of the investments from Alfanar will see £1 billion fund the Lighthouse Green Fuels waste-to-SAF plant. Back in June, the project entered the “Front-End Engineering Design” phase. The Saudi firm has granted the new plant contract to Worley, based in Teesside’s industrial cluster.

According to renewables specialist, once completed, the project will be able to convert one million tonnes’ worth of commercial and household waste into 180 million litres of SAF each year. This is the equivalent of annually supplying fuel for over 15,000 short-haul flights.

Sustainable aviation fuel has proven a popular approach for decarbonisation in the aviation industry. The sector is responsible for three per cent of yearly global emissions.

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