Financial close achieved for solar PPP in Saudi Arabia
Date
April 21, 2021
Type
Projects
Subtype
Financial close
Countries
Saudi Arabia
Subsectors
Renewables
Solar
Contracting Authorities
Saudi Power Procurement Company
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A consortium of Masdar, EDF Renewables and Nesma has secured financing for the 300 MW solar park project in Saudi Arabia and started the process of construction works. Located 50 km southeast of Jeddah city, the plant will be equipped with bifacial modules and single-axis trackers.
The consortium won the 25-year power purchase agreement (PPA) with a bid of SAR 60.90 (US$ 16.24). The solar farm is scheduled to begin operation in 2022.
