https://arab.news/pckh7
- The report noted that talks are currently in their early stages, and no finalization has yet been made
RIYADH: Saudi Arabia’s Public Investment Fund is eyeing stakes in Thyssenkrupp AG’s hydrogen unit, as the country aims to switch to greener forms of energy production, Bloomberg reported, quoting people familiar with the matter.
The people, who wished to stay anonymous, revealed that the PIF is now in the early stages of studying a potential investment in the German multinational conglomerate’s Nucera business.
Nucera is known for constructing plants that generate hydrogen gas from renewable energy sources.
This hydrogen will be later converted to electricity without greenhouse gas emissions.
The report noted that talks are currently in their early stages, and no finalization has yet been made.
Both the PIF and the Thyssenkrupp spokesperson declined to comment on the Bloomberg report.
Thyssenkrupp has already started its operations in Saudi Arabia by building a green hydrogen plant that will power the $500 billion NEOM megaproject.
Meanwhile, PIF is currently on a path of transition, as it is now heavily investing in non-oil sectors.