Masdar-led consortium reaches financial close on solar project in Jeddah
- Date: 10-Apr-2021
- Source: The National
- Sector:Financial Markets
- Country:Saudi Arabia
Masdar-led consortium reaches financial close on solar project in Jeddah
A consortium led by Abu Dhabi renewable energy company Masdar and France's EDF Renewables reached financial close on a 300 megawatt solar power plant project in Jeddah.
The consortium, which also includes Saudi Arabia-based Nesma Company, is starting construction on the plant that is scheduled to begin operation in 2022, the companies said in a statement on Saturday.
The solar plant will be located in Third Jeddah Industrial City.
The Renewable Energy Project Development Office (REPDO), a department within Saudi Arabia's Ministry of Energy, awarded the utility-scale photovoltaic Jeddah project to the consortium after it submitted the lowest bid of 60.9042
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