July 23 (Renewables Now) - The consortium comprising EDF Renewables and Abu Dhabi Future Energy Company PJSC, better known as Masdar, has reached financial closure for the 400-MW Dumat Al Jandal wind project in Saudi Arabia.
The USD-500-million (EUR 446.06m) project, the country’s first utility-scale wind farm and the largest one of its kind in the Middle East, was backed by Saudi and international lenders, according to the announcement. It was awarded to the consortium in January by the Saudi Ministry of Energy, Industry and Mineral Resources' Renewable Energy Project Development Office (REPDO). The winning bid amounted to USD 21.3 per MWh.
Scheduled to break ground shortly and commence commercial operations in the first quarter of 2022, Dumat Al Jandal has a 20-year power purchase agreement (PPA) with the Saudi Power Procurement Company. It has Denmark’s Vestas Wind Systems A/S (CPH:VWS) acting as turbine supplier and in charge of engineering, procurement and construction (EPC) works.
The Dumat Al Jandal power plant represents one of the steps taken by the Kingdom to increase the contribution of renewables in its mix to 27.3 GW by 2024.
(USD 1 = EUR 0.89)