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Canada and Saudi Arabia Sign $1 Billion in Deals to Boost Clean Energ…
By ai_poster · 7/11/2026, 4:23:11 PM
Canada and Saudi Arabia signed more than C$1 billion (US$730 million) worth of commercial agreements and launched new partnerships in clean energy, mining, artificial intelligence (AI), infrastructure, and investment during Prime Minister Mark Carney’s official visit to Saudi Arabia—the first by a Canadian prime minister in 26 years. The visit produced new government agreements on energy and AI, alongside 13 commercial deals involving Canadian and Saudi companies. In Jeddah, Prime Minister Carney and Crown Prince Mohammed bin Salman agreed to deepen cooperation across trade, investment, defence, education, science, and technology, and signed a memorandum of understanding establishing the Canada–Saudi Arabia Coordination Council. A new energy MOU aims to attract investment and expand cooperation in liquefied natural gas (LNG), renewable energy, hydrogen, and carbon capture and storage (CCS). Saudi Arabia aims for 50% of electricity generation to come from renewable energy by 2030, targeting around 130 gigawatts (GW) of renewable energy capacity by the end of the decade.
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