SARCO terminates green MoU with AGR Renewable Energy

SARCO
2030 -1.45% 47.66 -0.70

Riyadh – Mubasher: Saudi Arabian Refineries Company (SARCO) announced the expiration of a non-binding memorandum of understanding (MoU) previously signed with AGR Renewable Energy.

The agreement, which was originally disclosed on 5 February 2026, has ended without the parties entering into a binding contract.

The MoU was signed by Clean Energy Company, a subsidiary 100% owned by SARCO. The primary objective of the partnership was the proposed purchase of the entire production output from a green ammonia plant intended for construction in Jazan City for Primary and Downstream Industries.

The company confirmed that the expiration of the memorandum entails no financial obligations or liabilities for SARCO.

Furthermore, the termination of the agreement is expected to have no material impact on the company’s financial position or its operational results.

The project was part of SARCO's broader efforts to engage in the renewable energy sector through its specialized subsidiaries.

Source: Mubasher Source: {{details.article.source}}