RENEWABLES-

Safeer signs PPA with Golden Chicken for solar plant installation: Safeer — the JV between TotalEnergies and Saudi’s Zahid Group — signed a power purchase agreement with Golden Chicken to install a 5.18 MWp (4.13 MWac) solar power plant at the company’s site in the Kingdom, according to a press release. The facility is expected to generate more than 13 GWh of renewable electricity annually and offset around 6.7k tons of emissions annually.

Golden Chicken is into sustainability: The company signed an agreement with Dutch company Mavitec last year to develop a solid-waste treatment plant.

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DEBT WATCH-

#1- Nomu-listed Balady Poultry lined up two financing arrangements with Al Rajhi Bank, it said in separate filings to the exchange (here and here). The poultry-maker secured a SAR 333 mn, seven-year credit facility to support its growth plans and a SAR 100 mn, one-year facility to meet its working capital requirements. This could be part of the financing needed to cover the firm’s SAR 1.1 bn expansion plan announced in February to boost its poultry production over the next five years.

#2- Tanmiah Food subsidiaries secure SAR 200 mn facilities: Agricultural Development, Desert Hills for Veterinary Services, and Tanmiah Restaurants — all subsidiaries of Tamniah Food Company — secured SAR 200 mn in short-term shariah-compliant credit facilities from the Arab National Bank, according to a disclosure to Tadawul. The one-year financing is backed by a promissory note and will be used to cover working capital needs.

HEALTHCARE-

Novo Nordisk’s obesity drug to be made in Saudi? Danish drug maker Novo Nordisk signed an MoU with PIF-owned biopharmaceutical company Lifera to localize the production of semaglutide GLP-1 treatments in the Kingdom, according to a press release. The move aims to improve Saudi pharmaceutical manufacturing capabilities and ease access to treatments for chronic diseases like obesity and diabetes.

Future plans: Novo Nordisk plans to launch the weight management treatment Wegovy in the Kingdom in 2025 and hopes to increase its current reach of 1 mn patients to help three times as many by 2030.

REAL ESTATE-

Sumou + GolfNorth to work on golf destinations: Sumou Global Investment will collaborate with Canada’s golf course operator GolfNorth to develop a series of golf-centered lifestyle destinations across Saudi Arabia, the Middle East, and North Africa, according to a press release (pdf).

The details: The projects will include luxury residences and hotels, championship golf courses, and wellness centers in Riyadh, Jeddah, and Khobar starting this year, with phased openings beginning in 2027. GolfNorth will be responsible for the design, operation, and maintenance of the golf courses.

ARTS-

The Director’sProgram by Red Sea Labs will run from Tuesday, 29 April through 3 May in Jeddah, the Red Sea Film Foundation said in a post on LinkedIn. The program, led by renowned film director Spike Lee, will showcase 15 emerging filmmakers from the Arab world, Asia, and Africa and offer workshops, masterclasses, and one-on-one sessions. Interested directors may apply through the Red Sea International Film Festival website.

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