Saudi Arabia's Public Investment Fund, worth $990 billion, has made significant strides in renewable energy investments by entering into four joint ventures focusing on solar, wind, and green hydrogen projects. These initiatives form part of Saudi Arabia's broader strategy to transition from being a major oil producer to a key player in the renewable energy sector. The joint ventures include partnerships with companies such as Envision Energy, Jinko Solar, Lumetech SA PTE Ltd., and Engie SA to establish production facilities within the country for generating gigawatts of renewable energy yearly. One notable collaboration is with Envision Energy and Vision Industries to manufacture wind turbine components with a capacity of 4 gigawatts annually. Additionally, partnerships with Jinko Solar and Lumetech aim to produce solar power generating 10 and 20 gigawatts respectively each year. Moreover, a memorandum of understanding with Engie SA focuses on developing green hydrogen projects in Saudi Arabia to tap into the global market. Aligned with the Vision 2030 economic plan, these investments are pivotal in building local production capabilities and supply chains to achieve the target of 130 gigawatts of renewable energy by 2030. The Public Investment Fund's commitment includes investing over $10 billion in green projects between 2022 and 2026. Furthermore, the fund aims to boost solar and wind energy in the local grid to constitute 50% by 2030, positioning Saudi Arabia as a significant exporter of green hydrogen on the global stage. These initiatives signify a positive shift towards sustainability and economic diversification in the Kingdom's energy sector.