Saudi Electricity Company (SEC)

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