Alfanar Projects

What Alfanar Projects does

Alfanar Projects is a global project developer, engineering construction and technology solutions provider headquartered in Riyadh, Saudi Arabia, operating as a division of the privately held Alfanar Group. Founded in 1976 and rebranded from Alfanar Construction in 2023, the company executes EPC, EPCM, and LSTK contracts alongside PPP, BOT, BOOT, and DBFOM project development models, delivering assets it often finances and operates through long-term Power Purchase Agreements. It operates across six business lines — Grid, Renewable Energy, Water, Infrastructure, Process, and Digital — serving sovereign, utility, and industrial clients in Saudi Arabia, Spain, Egypt, India, the UK, the UAE, and Bahrain.

The company's technical capabilities span grid-forming Battery Energy Storage Systems (2.5 GW delivered across five Saudi sites with 2,000+ Power Conversion System units), HVDC transmission (7 GW MENA-largest Converter Station under construction), Sustainable Aviation Fuel via Fischer-Tropsch SPK with carbon capture (Lighthouse Green Fuels, Teesside, UK), green hydrogen and ammonia (Sokhna, Egypt), utility-scale solar and wind (1.75 GW portfolio, including 2x300 MW Gujarat wind farms and Benban Solar Park), and the Middle East's largest transformer/motor rewinding facility. Supporting functions include in-house steel fabrication (Alfanar Steel Structures), testing and commissioning, calibration (ISO 17025 lab), operations and maintenance, and a certified training institute that has delivered 300,000+ training hours.

The revenue model is multi-stream: one-time engineering construction contracts, managed services from project development concessions, professional services from testing/O&M/calibration and digital solutions, and recurring training revenue. Major anchors include a SAR 20 billion strategic contract portfolio with Saudi Electricity Company, a SAR 12 billion DBFOM investment in NEOM residential communities, and an SAR 3.5 billion LSTK contract for the Tuwaiq Casting & Forging Plant. Go-to-market is direct enterprise sales supported by participation in international industry forums (Energy Localization Forum, Bharat Electricity Summit, Saudi-Japan 2030 Roundtable). Disclosed metrics: $5 billion annual turnover, 10,000+ employees, 500+ projects, ISO 9001/45001 certified.

Name

Alfanar Projects

Legal name

Alfanar

Website

https://alfanarprojects.com

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Alfanar Projects is a Saudi-headquartered global EPC and project developer operating across Grid, Renewable Energy, Water, Infrastructure, Process, and Digital, delivering EPC, LSTK, and PPP/BOT projects for utilities, sovereigns, and industrial clients across 8+ countries with 10,000+ employees.

Ownership category

akta.pro rank

Product category

Engineering & Construction Services

NAICS

Utility System Construction (2371), Power and Communication Line and Related Structures Construction (237130), Water and Sewer Line and Related Structures Construction (237110)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), Water, Sewer, Pipeline, Comm & Power Line Construction (1623), Services-Computer Programming Services (7371)

akta.pro primary industry

Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)

akta.pro secondary industries

Overhead & Underground Collection System Construction (MV/HV Lines, Duct Banks) (EUAEADAG), Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL), Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE), Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), Wind Farm EPC & Balance of Plant Construction (Civil, Electrical, Substations) (EUAMACAF), Construction Management & Delivery (EPCM/CMAR/Design-Build Oversight) (EUANALAE)

Keywords

• EPC construction services
• Power grid infrastructure
• Renewable energy projects
• Water desalination plants
• Engineering project development

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Engineering Construction: EPC, EPCM, and LSTK contracts for grid, water, renewable energy, infrastructure, process, and healthcare sectors across multiple geographies. Delivers projects on time and within budget with comprehensive engineering and construction services.
2. Project Development: BOT, BOOT, DBFOM, and PPP models for developing, financing, designing, building, and operating assets across grid, water, renewable energy, infrastructure, process, healthcare, and digital sectors. Operates as IPP and IWPP with Power Purchase Agreements globally.
3. Engineering Services: Testing & commissioning, operation & maintenance, calibration services, and repairing/rewinding of motors, transformers, and generators through four strategic business units
4. Digital Solutions: System integration, cybersecurity, cloud computing, AI/ML, data analytics, and digital transformation services for public and private sector clients
5. Technical Training: Certified technical training programs for electrical sector at basic, intermediate, and expert levels for industry professionals

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Alfanar Projects delivers engineering construction services (EPC, EPCM, LSTK) and develops, finances, designs, builds, and operates large-scale infrastructure assets across power grid, renewable energy, water desalination, infrastructure/buildings, process, and digital sectors via BOT, BOOT, DBFOM, and PPP models. Its portfolio includes the MENA-largest 7 GW HVDC Converter Station, the world's largest 2.5 GW grid-forming BESS, a UK Sustainable Aviation Fuel plant, NEOM residential communities, and 200+ HV/EHV substations, complemented by engineering services, technical training, digital solutions, and steel structures fabrication.

Product overview

Alfanar Projects is a global project developer, engineering construction and technology solutions provider with roots in Saudi Arabia, operating as a single unified platform across six integrated business lines. The portfolio includes: Engineering Construction (EPC/EPCM/LSTK services across grid, water, renewable energy, infrastructure, process, and healthcare sectors), Alfanar Global Development (project development through BOT/BOOT/DBFOM models), Alfanar Digital Solutions (AI/ML-enabled industrial IoT, cybersecurity, cloud, and data analytics), Alfanar Engineering Services (testing, commissioning, O&M, calibration, and technical services), Alfanar Steel Structures (fabrication and erection of industrial steel structures), and the Alfanar Training Institute (technical training programs). Key landmark projects include the Lighthouse Green Fuels SAF facility in the UK, NEOM sustainable residential communities, Tuwaiq Casting & Forging Plant, and the 2.5 GW grid-forming BESS system. The company holds ISO certifications for information security, IT service management, business continuity, privacy, and quality/safety management.

Differentiator

Problem solved

Functional benefit

Brands

• Alfanar Global Development (AGD): Project development arm that develops, plans, finances, designs, builds and operates assets across grid, water, renewable energy, infrastructure, process, healthcare, and digital sectors
• Alfanar Digital Solutions (ADS)
• Alfanar Engineering Services (AES)
• Alfanar Engineering Construction
• Alfanar Steel Structures
• Lighthouse Green Fuels
• Alfanar Technical Services (ATS)
• Alfanar Calibration Services (ACS)
• Alfanar Operation & Maintenance (AO&M)
• Alfanar Testing & Commissioning (AT&C)

Quantifiable outcome

• Average project quality index of 91% on all engineering construction projects
• +6 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature5 records

Partnerships

15 partnerships are on record, tiered strategic, core and exploratory.

• ChemVolt Global Private LimitedstrategicStrategic or Co-development Partner · 1 March 2026MoU for collaboration in Battery Energy Storage Systems (BESS) signed at Bharat Electricity Summit 2026
• Greenzo Energy India LimitedstrategicStrategic or Co-development Partner · 1 March 2026MoU for cooperation in green hydrogen, green ammonia, and related industrial gas technologies signed at Bharat Electricity Summit 2026
• Foursquare Energy Private LimitedstrategicStrategic or Co-development Partner · 1 March 2026MoU for developing 1 GW of greenfield renewable energy projects in Gujarat including STU-connected projects and captive/third-party sales
• Saudi Electricity CompanycoreStrategic or Co-development PartnerStrategic partnership for HVDC Converter Station (7 GW capacity), Battery Energy Storage Systems, Smart Distribution Centers, and renewable energy grid integration projects. Contracts exceeding SAR 20 billion signed at Energy Localization Forum.
• China Electric Power Equipment and Technology Co.coreTechnology or IntegrationCollaboration on MENA's largest HVDC Converter Station project for high-capacity power transmission between Central, Western, and Southern regions of Saudi Arabia
• Swedish Embassy (Sweden)exploratoryStrategic or Co-development PartnerStrategic discussions on battery storage, HVDC transmission, and renewable energy collaboration. Swedish delegation visited Medinet Alfanar in Riyadh to explore energy transition partnerships.
• SBI HoldingsstrategicStrategic or Co-development PartnerMoU signed at Saudi-Japan 2030 Roundtable for potential collaboration in energy sector investments
• General Authority of the Suez Canal Economic Zone (Egypt)strategicStrategic or Co-development PartnerMoU to develop a green ammonia facility in Sokhna as part of Egypt's green hydrogen strategy
• Sovereign Fund of EgyptstrategicStrategic or Co-development PartnerGreen hydrogen framework agreement signed during COP27 and MoU for green ammonia facility development
• Egyptian Electricity Transmission CompanystrategicStrategic or Co-development PartnerCollaboration on green hydrogen and green ammonia project development in Egypt
• New and Renewable Energy Authority (Egypt)strategicStrategic or Co-development PartnerPartnership for renewable energy powered green hydrogen project with 100,000 tons annual production capacity
• DussurcoreStrategic or Co-development PartnerIndustrial localization partnership for Tuwaiq Casting & Forging Plant in Ras Al Khair Industrial City
• Doosan EnerbilitycoreTechnology or IntegrationTechnology partnership for casting and forging plant with specialized equipment and processes
• UK Government Department for TransportcoreStrategic or Co-development PartnerLighthouse Green Fuels project aligned with UK SAF Mandate targeting 10% of jet fuel demand by 2030
• Tees Valley Combined Authority (UK)coreStrategic or Co-development PartnerPartnership for Europe's largest second-generation biomass-to-SAF plant in Teesside

Scale indicators22 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Doosan Enerbility: Korean EPC and turbine manufacturer partnering with Alfanar on the Tuwaiq Casting & Forging Plant. Comparable as a turbine and power generation EPC player with overlapping Saudi giga-project exposure.
• Tata Projects: Indian EPC company focused on power transmission, renewables, and urban infrastructure. Comparable as a regional player bidding on Indian grid, substation, and renewable projects where Alfanar is also active via Senvion India and SECI contracts.

Direct peers

• ACWA Power: Riyadh-headquartered IPP/IWPP developer with overlapping capabilities in power generation, water desalination, and renewable energy project development. Comparable business model via BOT/PPA structures across Saudi Arabia, MENA, and emerging markets.
• Saudi Binladin Group: One of the largest Saudi construction conglomerates executing mega infrastructure, residential, and giga-projects (e.g., NEOM). Directly competes with Alfanar Projects for Saudi Vision 2030 EPC awards in infrastructure and grid.
• Elsewedy Electric: Egyptian-headquartered infrastructure and integrated energy solutions provider with EPC, transformers, cables, and renewable energy operations across MENA and Africa. Comparable to Alfanar's grid, water, and renewable EPC plus electrical manufacturing scope.
• Técnicas Reunidas: Spanish EPC contractor specializing in oil & gas, petrochemical, and energy transition projects. Comparable on the Spanish subsidiary's footprint and on EPC execution of large process and renewable energy projects.

Broad incumbents

• Larsen & Toubro: Indian EPC conglomerate executing large-scale power transmission, renewables, hydrocarbons, and infrastructure projects globally. Comparable as a broad incumbent competing with Alfanar for international EPC tenders and large HVDC/transmission work.
• Worley: Australian-listed global engineering and project delivery firm focused on energy, chemicals, and resources. Comparable to Alfanar's process, oil & gas, and energy transition EPC offering across the Middle East and Europe.
• Power Construction Corporation of China (PowerChina): Chinese state-owned EPC conglomerate executing large hydropower, solar, and transmission projects globally. Comparable as a broad incumbent competing on mega renewable EPC and HVDC/transmission work where Alfanar operates.

Others

• L&T Energy Hydrocarbons (L&T Energy): Engineering and construction arm of Larsen & Toubro focused on oil & gas, petrochemical, and green hydrogen EPC. Comparable to Alfanar's Process and SAF/green hydrogen project development scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/alfanarprojects
• YouTubeyoutube.com/@alfanarprojects
• Facebookfacebook.com/alfanarprojects
• LinkedInlinkedin.com/company/alfanar-construction
• Instagraminstagram.com/alfanarprojects

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alfanar Projects