Masdar Opens New Office in Saudi Arabia With Focus On Renewable Projects

Oct 31, 2022 11:51 AM ET
  • Abu Dhabi's flagship renewable energy company plans to bid in Saudi Power Procurement Co. Round 4 tender for projects with combined capacity of 3.3 gigawatts
  • Company aims to contribute to existing projects in the Kingdom, consisting of 400-megawatt (MW) wind farm-- largest between East-- and also 300 MW solar energy plant

Renewable energy major Masdar had actually opened up a new dedicated office in the Saudi Arabia to strengthen its support for the Kingdom's clean power goals. Masdar will certainly additionally take part with partners in the upcoming Round 4 tender revealed by the Saudi Power Procurement Co. (SPPC) for wind as well as solar projects with a combined capacity of 3.3 gigawatts (GW).

The commencement of the office in Riyadh was gone to by UAE Ambassador to the Kingdom of Saudi Arabia, Masdar chief executive officer, Saudi authorities and industry leaders.

Mohamed Jameel Al Ramahi, CEO, Masdar, stated, "Masdar is proactively committed to sustaining Saudi Arabia's efforts to get to net zero, and also the Kingdom stands for an essential calculated market where we have developed a tried and tested record in developing clean energy projects. This new office will certainly support Masdar's ongoing development and also development in the Kingdom, as well as it will certainly better allow us to aid diversify Saudi Arabia's power mix as well as satisfy the ambitious renewable energy targets detailed in Vision 2030."

The Projects In Sight

The SPPC's Round 4 tender will certainly be for 3 wind power plants with a combined capacity of 1.8 GW, and also two solar parks amounting to 1.5 GW, as part of the nation's National Renewable Energy Program. Saudi Arabia is planning to generate half of its electrical power from clean sources by the end of this decade, targeting 58.7

Masdar's 400 MW Dumat Al Jandal Wind Farm-- the Kingdom's first as well as the largest between East-- started electrical power production last year that will certainly generate clean power to power 70,000 Saudi homes and also displacing 988,000 tonnes of CO ₂ annually.

Masdar is additionally establishing the 300-MW South Jeddah Noor Solar Photovoltaic Plant, through a consortium led by Masdar with EDF Renewables and also Nesma Company as companions. The consortium authorized a 25-year PPA with SPPC last year to layout, finance, construct and also run the plant.

Under its Vision 2030 objectives, Saudi Arabia is also aiming to discover developing the capacity of the commercial and industrial (C&I) industry for solar power generation. Appropriately, Masdar sees substantial potential to target this sector with Emerge, the joint endeavor it developed with EDF to collaborate on chances in dispersed solar generation, power effectiveness as well as street lights in the UAE and Saudi Arabia.

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