Alfanar Projects
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.
- Company typePrivate
- Founded1976
- HeadquartersRiyadh, Saudi Arabia
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
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.
Alfanar Projects firmographics
Firmographics- 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
Alfanar Projects industry classification
Industry- 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
Where Alfanar Projects is headquartered
LocationHeadquarters
- HQ city
- Riyadh
- HQ country
- Saudi Arabia
- HQ region
- Middle East
Offices6 records
Markets served
Alfanar Projects business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- 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.
- 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.
- Engineering Services: Testing & commissioning, operation & maintenance, calibration services, and repairing/rewinding of motors, transformers, and generators through four strategic business units
- Digital Solutions: System integration, cybersecurity, cloud computing, AI/ML, data analytics, and digital transformation services for public and private sector clients
- 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
Alfanar Projects product offering
Product offeringCore 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
Companies that use Alfanar Projects
Customer profileNamed customers10 records
Segments6 records
Ideal customer profiles4 records
Alfanar Projects technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature5 records
Alfanar Projects partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered strategic, core and exploratory.
- ChemVolt Global Private LimitedstrategicMoU for collaboration in Battery Energy Storage Systems (BESS) signed at Bharat Electricity Summit 2026
- Greenzo Energy India LimitedstrategicMoU for cooperation in green hydrogen, green ammonia, and related industrial gas technologies signed at Bharat Electricity Summit 2026
- Foursquare Energy Private LimitedstrategicMoU for developing 1 GW of greenfield renewable energy projects in Gujarat including STU-connected projects and captive/third-party sales
- Saudi Electricity CompanycoreStrategic 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.coreCollaboration 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 discussions on battery storage, HVDC transmission, and renewable energy collaboration. Swedish delegation visited Medinet Alfanar in Riyadh to explore energy transition partnerships.
- SBI HoldingsstrategicMoU signed at Saudi-Japan 2030 Roundtable for potential collaboration in energy sector investments
- General Authority of the Suez Canal Economic Zone (Egypt)strategicMoU to develop a green ammonia facility in Sokhna as part of Egypt's green hydrogen strategy
- Sovereign Fund of EgyptstrategicGreen hydrogen framework agreement signed during COP27 and MoU for green ammonia facility development
- Egyptian Electricity Transmission CompanystrategicCollaboration on green hydrogen and green ammonia project development in Egypt
- New and Renewable Energy Authority (Egypt)strategicPartnership for renewable energy powered green hydrogen project with 100,000 tons annual production capacity
- DussurcoreIndustrial localization partnership for Tuwaiq Casting & Forging Plant in Ras Al Khair Industrial City
- Doosan EnerbilitycoreTechnology partnership for casting and forging plant with specialized equipment and processes
- UK Government Department for TransportcoreLighthouse Green Fuels project aligned with UK SAF Mandate targeting 10% of jet fuel demand by 2030
- Tees Valley Combined Authority (UK)corePartnership for Europe's largest second-generation biomass-to-SAF plant in Teesside
Scale indicators22 records
Recent moves7 records
Expansion highlights6 records
Alfanar Projects competitors and assessment
Company assessmentEmerging 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
Alfanar Projects social profiles
Digital presenceAlfanar Projects compliance and trust
Trust signalCompliance8 records
Alfanar Projects financial estimates
Financial estimateRevenue estimate
Valuation estimate
Alfanar Projects leadership team
Management profileNumber of profiles
Profiles9 records
Alfanar Projects subsidiaries and ownership
Company hierarchySubsidiaries11 records
Alfanar Projects funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Alfanar Projects M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Alfanar Projects
What does Alfanar Projects do?
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.
Is Alfanar Projects a public or private company?
Alfanar Projects is a private company. It is classified as family owned and is currently operating.
When was Alfanar Projects founded?
Alfanar Projects was founded in 1976. It employs 5,001 to 10,000 people.
Where is Alfanar Projects based?
Alfanar Projects is headquartered in Riyadh, Saudi Arabia, in the Middle East region.
How does Alfanar Projects make money?
Five revenue lines are on record. Engineering Construction is the primary driver. The others are project Development, engineering Services, digital Solutions and technical Training.
Who are Alfanar Projects's main competitors?
Emerging players on record are Doosan Enerbility and Tata Projects. Direct peers are ACWA Power, Saudi Binladin Group, Elsewedy Electric and Técnicas Reunidas. Broad incumbents are Larsen & Toubro, Worley and Power Construction Corporation of China (PowerChina). L&T Energy Hydrocarbons (L&T Energy) is listed as an others.
Does Alfanar Projects have an API?
No public API is recorded for Alfanar Projects.
What industry is Alfanar Projects in?
Alfanar Projects's product category is Engineering & Construction Services. Its primary akta.pro industry code is EUAMAFAJ, Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE), with a secondary code of EUAEADAG, Overhead & Underground Collection System Construction (MV/HV Lines, Duct Banks). Its NAICS code is 2371 and its SIC code is 1600.