Saudi Electricity Company (SEC)

SEC is working to lower carbon emissions while supporting the targeted energy mix in Saudi Arabia, which aims to generate 50% of electricity from renewable energy sources and 50% from natural gas by 2030. In April 2023, SEC announced the completion of a dual-tranche series of green and conventional sukuks totaling $2 billion under its international sukuk program. The 10-year green sukuk issuance raised $1.2 billion.