BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Electric Power

Saudi Arabia awards 400 MW onshore wind project to EDF, Masdar

Grains | Coal | Electric Power | Natural Gas | Oil | Metals | Petrochemicals | Shipping

Market Movers Europe, September 3-7: EU offers US tariff deal; Trump WTO threat reverberates

Electric Power

Platts Market Data – Electric Power

Commodities | Energy | Electric Power | Emissions | Renewables | Natural Gas | Natural Gas (North American)

Northeast Power and Gas Conference

Electric Power

Dutch hail second subsidy-free offshore wind tender

Saudi Arabia awards 400 MW onshore wind project to EDF, Masdar

Highlights

$500 million onshore project biggest in Middle East

Financed by 20-year PPA at $21.3/MWh

Saudi targets 10% renewables share by 2023

London — Saudi Arabia has awarded its first major onshore wind project to a consortium of EDF Renewables and Abu Dhabi's Masdar, the French state-owned utility said Friday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The 400 MW project at Dumat Al Jandal, 560 miles north of Riyadh, will be the largest in the Middle East, it said.

The $500 million project will have a 20-year power purchase agreement with the Saudi Power Procurement Company, a unit of Saudi utility SEC.

The project was awarded by the Renewable Energy Project Development Office at the Saudi Ministry of Energy, Industry and Mineral Resources following a call for tenders launched in August 2017.

The consortium submitted the most cost-competitive bid at a PPA of $21.3/MWh, it said.

Saudi utility ACWA, Italy's Enel and France-based Engie also submitted bids.

"The Kingdom of Saudi Arabia has set a clear energy strategy to substantially increase the share of renewables in its total energy mix to 10% by 2023," Masdar CEO Mohamed Jameel Al Ramahi said.

"This new project demonstrates our ambitions in the country and represents another step forward under the EDF Group's Cap 2030 strategy, which aims to double its renewable energy capacity by 2030 - both in France and worldwide - to 50 GW," EDF Renewables CEO Bruno Bensasson said.

N. American Digital Commodities Summit | March 28-29, 2019

Explore the many questions surrounding big data, artificial intelligence and blockchain’s impact on the energy industry. Meet with experts to examine ongoing initiatives, technological advancements, impending regulations and the focus on cybercrime.

Register now

Both EDF Renewables and Masdar teams are already mobilized and construction works will start in a few months in the Al Jouf region of north-western Saudi Arabia, it said.

The project is 51%-owned by EDF Renewables and 49% by Masdar.

Dumat Al Jandal will connect to Saudi's s Northern grid and produce around 1.4 TWh/year, the ministry said previously.

The project falls under Saudi Arabia's National Renewable Energy Program which aims to support the construction of 3.45 GW of renewable energy capacity by 2020, equivalent to 4% of Saudi's total energy production, and 9.5 GW by 2023, equivalent to 10% of energy production.

Investment in the projects was expected to reach SR 60 billion ($16 billion).

Over 3 GW of this initial drive involves solar power and 800 MW wind.

--Andreas Franke, andreas.franke@spglobal.com

--Edited by Daniel Lalor, newsdesk@spglobal.com