The Public Investment Fund (PIF)) recently announced the completion of its acquisition of a 30% stake in the Saudi Tabreed District Cooling Company (Saudi Tabreed), a leading provider of sustainable district cooling schemes for some of the largest projects in Saudi Arabia. The investment supports PIF’s efforts to grow and develop the local utilities and low-carbon sectors.
Saudi Tabreed currently manages 779,000 tonnes of refrigeration
Saudi Tabreed currently manages 779,000 tonnes of refrigeration via contracts with major companies in Saudi Arabia. This includes Saudi Aramco’s Dhahran district cooling plant, the Jabal Omar district cooling plant in the city of Makkah, the district cooling scheme at King Khalid International Airport in Riyadh, and a centralized cooling plant at the AMAAD Business Park in Dhahran. Saudi Tabreed also serves The Red Sea project, which is a key part of Saudi Arabia’s Vision 2030.
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