Masdar, partners close financing for 300-MW solar project in S Arabia

Solar panels. Image by: EDF Renewables.

April 12 (Renewables Now) - A tie-up of Masdar, France’s EDF Renewables and Saudi Arabia’s Nesma has kicked off the construction of a 300-MW solar park in Saudi Arabia after reaching financial close for an undisclosed amount, it was announced in a joint statement.

The multinational consortium won the right to design, finance, build and operate the power plant after placing the winning bid of SAR 60.9042 (USD 16.24/EUR 13.66) per MWh in a national procurement round.

To be located about 50 km (31.1 miles) southeast of Jeddah city, the solar farm will be equipped with bifacial modules and single-axis trackers. It will sell its output to the Saudi Power Procurement Company under a 25-year power purchase agreement (PPA), which the partnership signed in January.

The Jeddah complex is scheduled to go online in 2022.

In 2019, EDF Renewables and Abu Dhabi Future Energy Company PJSC, better known as Masdar, were awarded a project to build the 400-MW Dumat Al Jandal wind farm in Saudi Arabia. The plant is set to become Saudi Arabia's first wind farm and the largest one in the Middle East once it begins operations by end-2022, Masdar and EDF Renewables added.

(SAR 1.0 = USD 0.267/EUR 0.224)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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