Saudi Arabia's Al Moammar Information Systems (MIS), and Abunayyan Holding Group will establish a joint venture company to build and develop green data centres based on renewable energy in the Kingdom. 

MIS said in a stock exchange statement that the JV would be equally owned by both companies. 

The JV follows a memorandum of understanding (MoU) signed between the two companies in February to research the feasibility of establishing and developing green data centres based on renewable energy in the Kingdom. 

The Chairman of Abunayyan Holding, Mohammad Abunayyan is also the Chairman of ACWA Power International, one of the top global developers of renewable energy projects headquartered in the Kingdom. 

MIS is also part of an initiative led by the Saudi Ministry of Communications and Information Technology (MCIT) to develop large-scale data centres in the Kingdom. 

MCIT is working on a plan to develop more than 1,300 megawatts of data centre capacity by 2030 at a total investment of $18 billion. 

(Writing by SA Kader; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

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