Saudi Electric to build 50-MW solar park as part of larger plant

Saudi Electricity Co (TADAWUL:5110) plans to include a 50-MW solar park in a 1,390-MW combined cycle power plant to be built in the Northern Border Province, the Saudi Press Agency (SPA) reports.

The electric utility signed a deal to construct the plant in Waad Al Shamal City on Wednesday. The cost of building the entire facility is estimated at SAR 3.68 billion (USD 980.2m/EUR 897.7m), excluding the SAR 989 million needed to hook the plant to the power grid.

The solar park will be able to produce enough electricity on its own to save 4 million barrels of oil equivalent during its lifespan.

The entire plant is expected to be completed in 2018, according to SPA’s report, which quoted a statement from SEC board chairman Saleh Hussein Al-Awaji.

(SAR 1.0 = USD 0.267/EUR 0.244)

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