El Sewedy Electric for Transmission & Distribution, a subsidiary of Elsewedy Electric Company, has signed a contract with Al Ghazala Energy Company (subsidiary of Jinko Power) to build a solar power station with a capacity of 300 MW in Saudi Arabia.
The announced contract amount is US$176.10 million. The project will be implemented on a turnkey basis within 16.5 months and 29 months given for operation and maintenance. El Sewedy Electric for Transmission & Distribution will mainly focus on the design, supply, and installation of the entire project, according to a recent stock exchange filing.
The Power Purchase Agreement for a term of 25 years was signed in March 2022 with Saudi Power Procurement Company. Jinko Power has reached a financial close and begun construction works for the project. It is scheduled for commissioning in Q4 2024.
The Saudi Arabian Oil Company (Aramco) has awarded Lamar Holding the contract to develop a US$693 million seawater desalination facility in Saudi Arabia.
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