Saudi Arabian solar developer and installer HAALA Energy has successfully raised SAR 28.5 million in its Series A funding round, paving the way for accelerated growth in its commercial and industrial (C&I) solar project pipeline.
Headquartered in Jeddah, the company announced that the funding round was led by Fakeeh Investment Holding, the majority shareholder of Fakeeh Care, a key player in the local healthcare sector. The investment includes SAR 18.5 million in equity financing and SAR 10 million in debt funding. With this capital injection, HAALA Energy aims to deploy 30 MWp of solar capacity for C&I clients over the next three years.
Founded in 2017, HAALA Energy specializes in solar project development, installation, and operations & maintenance. Its client portfolio features major corporations, including Savola Group, IKEA Alsulaiman, and leading pharmaceutical and healthcare firms such as GSK, Fakeeh Care Group, and Tamer Group.
