A consortium of EDF and Masdar has closed financing on the Dumat Al Jandal wind farm in Saudi Arabia.
The 400 MW wind farm will be the first utility-scale wind farm in Saudi Arabia, and the largest in the Middle East. Project construction will begin “shortly”, with commercial operations scheduled to start in early 2022, according to Masdar.
EDF and Masdar said that the $500 million project has been backed by Saudi and international banks. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said that the financing was over-subscribed, illustrating “the confidence of local and international lenders, and the investment community, in the economy of the Kingdom and its potential as a hub for highly cost-effective renewable energy development”.
Vestas is the contracted wind-turbine technology provider and responsible for the engineering, procurement and construction (EPC) contract. TSK will be responsible for the balance of plant (BOP), while CG Holdings will provide the substations and high-voltage solutions.
The Dumat Al Jandal wind farm will supply electricity under to a 20-year power purchase agreement (PPA) with the Saudi Power Procurement Company.
The wind farm is a key part of Saudi Arabia’s plans to increase its renewable energy generating capacity to 27 GW by 2024.