TGOOD Executives Hold Talks with Senior Management of Saudi Electricity Company as Part of Qingdao Business Delegation

On April 10 local time, as part of the business delegation led by Mr. Wang Bo, Member of the Standing Committee of the Qingdao Municipal Party Committee and Vice Mayor, Mr. Yu Dexiang, Chairman of TGOOD, and Mr. Wang Chao, President of TGOOD, held talks in Riyadh, the capital of Saudi Arabia, with Mr. Naser AL Salami, Executive Vice President of the Saudi Electricity Company, Mr. Sultan AL Sudais, President of Saudi Electricity PDC Company, and Mr. Ahmed AL Zahrani, Vice President of Saudi Electricity NG Company. The two sides exchanged views on the planning of the Saudi energy market and the strategic layout for the future development of the Saudi power grid.

Vice Mayor Wang Bo first expressed his appreciation for the Saudi Electricity Company as a key executor of Saudi Arabia’s “Vision 2030,” which aims to diversify the economy and promote a low-carbon transition. He also extended his gratitude to the Saudi Electricity Company for awarding a contract to TGOOD, a key enterprise based in Qingdao. He noted that Qingdao is actively developing into a new frontier for China’s opening-up and is committed to fostering a world-class business environment that is market-oriented and internationalized. Looking ahead, he expressed hope that the Saudi Electricity Company would deepen and expand its pragmatic cooperation with Qingdao-based enterprises in areas such as smart energy, and jointly establish a high-quality international strategic partnership.

Chairman Yu Dexiang then provided a detailed report on the execution status and on-site implementation plan of the Saudi mobile vehicle-mounted substation project. He emphasized that the Saudi market is one of the most important overseas markets for TGOOD’s international business development, and that winning this project holds great significance for the company’s global expansion. TGOOD’s prefabricated modular substation and vehicle-based charging network system solutions demonstrate strong market competitiveness and broad prospects for future promotion in Saudi Arabia. With the technical advantages of being “fast, precise, cost-efficient, and flexible,” these solutions are expected to accelerate Saudi Arabia’s progress toward achieving its national energy transition goals under “Vision 2030.”

Mr. Naser AL Salami extended a warm welcome to Vice Mayor Wang Bo and the Qingdao Municipal Government business delegation. He introduced the organizational structure, business model, and future development plans of the Saudi Electricity Company. Mr. Naser AL Salami noted that under the strategic framework of Saudi Arabia’s “Vision 2030,” the Saudi Electricity Company holds a pivotal role in energy supply and economic development. The company is transitioning from a traditional electricity provider to an integrated energy service provider. In the future, it will shoulder the critical responsibilities of reducing dependence on oil, developing renewable energy, and enhancing energy efficiency. As such, the quality and delivery speed of power solutions will be of paramount importance in ensuring sustainable, more economical, safer, and faster power supply. Mr. Naser AL Salami expressed strong approval of the cooperation with Qingdao-based enterprise TGOOD, highly recognizing the company’s outstanding capabilities in prefabricated modular substation solutions and its significant growth potential in the Saudi market. He emphasized that this opportunity marks the beginning of broader and deeper cooperation between the Saudi Electricity Company and Qingdao City across more sectors in the future.

As one of the largest business exchange events in recent years jointly organized by a Chinese local government and the Saudi Electricity Company, this event has provided an important platform for local enterprises to explore new opportunities for international cooperation. Both sides look forward to further deepening collaboration in key industries, green energy, and international trade, working together to promote high-quality development.