Marubeni Corporation (hereinafter, “Marubeni”) has been awarded and concluded a Power Purchase Agreement with Saudi Power Procurement Company (hereinafter, “SPPC”) for the Al-Ghat and Waad Al-Shamal Wind IPP Projects in the Kingdom of Saudi Arabia (hereinafter, “Saudi Arabia”), alongside Abdulaziz Alajlan Sons for Commercial & Real Estate Investment Company – Ajlan & Bros (hereinafter, “Ajlan & Bros”).
Marubeni and Ajlan & Bros will develop, construct, operate, and maintain the Al-Ghat Onshore Wind IPP Project at a facility with a 600MW capacity to be established in the city of Al-Ghat, Riyadh Province, and the Waad Al-Shamal Onshore Wind IPP Project at a facility with a 500MW capacity to be established in the city of Turaif, Northern Borders Province. SPPC will purchase the produced power for 25 years following the commencement of the commercial operation dates. These projects will be the first wind projects to be implemented with the involvement of a Japanese company in Saudi Arabia.
In the power business industry, Marubeni considers Saudi Arabia, as a country which is undergoing remarkable growth, to be one of its highest-focus markets in the Middle East and Northern African (MENA) region. Against this backdrop, Marubeni has participated in the Rabigh Solar PV IPP Project (300MW), a rooftop solar PV project as well as a district cooling business and clean hydrogen project in the country. These projects will enable Marubeni to expand the scope of its various businesses in Saudi Arabia.
Marubeni formulated its long-term vision for climate change in March 2021 and has positioned a green strategy as one of its basic policies for enhancing corporate value in its mid-term management strategy GC2024. Through these projects, Marubeni will contribute by securing stable power supply from renewable energy and decarbonization, and is committed to being actively involved in green business, including renewable energy project in both Saudi Arabia and throughout the world.
