GE to (Maaal): We contribute more than 50% of energy generated in Saudi Arabia… and we have 900 Saudi employees with a localization rate of 60%

Eng. Hisham Al-Bahkali, President of General Electric Vernova Saudi Arabia, revealed to (Maaal) that the company has been operating in the Kingdom for more than 90 years, and owns more than 50% of the energy generated in the country, as it participates in many huge projects worth billions of riyals. He explained that the company’s investments in the Kingdom began in the seventies with small factories, then expanded in the eighties and nineties, to become today a company specialized in energy after it included other sectors such as aviation, indicating that the total investments until the end of 2024 are estimated at about 5 billion riyals, including factories, localization, and technical development. Bahkali added in exclusive statements to (Mal) newspaper on the sidelines of the New Era of Energy conference, organized by General Electric Vernova: The company is working to increase the percentage of localization, which currently stands at 60% of the total 900 employees, after restructuring the company and separating the aviation sector from it, as the number of employees previously reached 4,000 employees. He pointed out that the conference that the company will hold tomorrow will witness the attendance of 500 global suppliers affiliated with GE Vernova with the aim of encouraging them to invest in the Kingdom and support local content. He explained that most of the company’s production depends on gas and not liquid fuel, noting that the company’s technologies achieve high efficiency, as some of the latest production units were manufactured in the Dammam factory, which was inaugurated by Prince Abdulaziz bin Salman. Regarding the impact of the energy mix between traditional and renewable sources on prices, he explained that each technology has its own cost, and that choosing the type of energy depends on the requirements of the network and not just on the price, as sustainability, reducing carbon emissions and meeting the increasing demand are taken into account, especially with the expansion of data centers that require large amounts of electricity. He pointed out that the demand for electricity has increased dramatically globally with the spread of data centers and artificial intelligence, noting that future units have been sold until 2028 due to the increased demand from these sectors. He also explained that the Kingdom aims to become a major source of data and not just energy, as stated by the Saudi Minister of Finance at the Davos Forum, which requires preparation to provide huge energy for these centers. He revealed that the company has adjusted its expectations and strategies after the unexpected growth in demand for electricity due to data centers, as demand exceeded all expectations, leading to a shortage of electricity generation units globally.