French companies in energy and waste treatment sign several agreements and contracts in Saudi Arabia

Several contracts and agreements were announced on this occasion, which give pride of place to renewable energies. Here is an update on the main announcements.

Ecological transition

Contracts for three solar power plants, with a total capacity of 1.700 megawatts, were signed on Tuesday, according to a summary sent by the Elysée.

EDF Renewables has won two contracts for the construction of 1.000 and 400 megawatt power plants, in consortium with a Chinese company.

At the same time, TotalEnergies will build and operate a 300-megawatt power plant, in consortium with a Saudi company. Its connection to the grid is planned for 2026, TotalEnergies said.

These solar power plant constructions are part of the Saudi national program for renewable energies, specifies the Elysée: a program of economic diversification of Saudi Arabia, the world's leading exporter of crude oil.

TotalEnergies has also signed an agreement, announced on Tuesday, with the Saudi oil giant Aramco to assess the feasibility of building a sustainable aviation fuel production plant in Saudi Arabia.

These fuels, of non-fossil origin, could ultimately represent an alternative to aircraft kerosene and reduce their carbon footprint.

Waste treatment

Several agreements were also announced on Tuesday in the waste treatment sector.

Veolia will partner with Saudi Investment Recycling Company (SIRC), a company owned by the Saudi Arabian Public Investment Fund, for the management of household, industrial and hazardous waste in Saudi Arabia, the French group announced on Tuesday.

Also in partnership with SIRC, the French multinational Suez plans to develop a "strategic partnership" around waste treatment, with projects "totaling one billion euros over 25 years," the Elysée Palace said. The two companies will notably create a joint company for the treatment of medical waste and develop an incinerator that will treat a third of Riyadh's municipal waste, representing a business volume for Suez of "750 million euros over the next 25 years."

“Advances” on the Rafale

Emmanuel Macron also declared on Tuesday that France and Saudi Arabia had the "desire to move forward" towards the conclusion of a contract to sell Rafale fighter jets to the powerful Gulf monarchy.

"In terms of security and defence, we have very clearly improved things (...) with the desire to move forward on the Rafale, which is a major change in the bilateral relationship and which for us also consolidates the development of this club," he told French journalists in Riyadh.

An announcement was not expected during the president's visit to Saudi Arabia, but at least a desire to "take a decision" in this direction, indicated a source close to the matter.

Port sector and artificial intelligence

French container ship operator CMA CGM has reached an agreement with the Saudi Ministry of Investment for the development of port terminals and logistics platforms, for an undisclosed amount, the Elysée Palace announced.

GL Events, a major player in the events industry, which was notably a major service provider for the Paris 2024 Olympic Games, will take a majority stake in Add Enterprise, a Saudi events specialist whose ambition is to develop "a global events industry" in the country, the same source indicated.

Saudi oil giant Aramco has also signed memoranda of understanding with French start-ups Pasqal on quantum research and Mistral AI in artificial intelligence.

Saudi Arabia has also pledged to contribute 50 million euros to the renovation of the Pompidou Centre in Paris, in exchange for cultural cooperation agreements, an AFP journalist learned from the French Ministry of Culture.