A totalEnergies-led international consortium has received financing for a 119 MW Solar PV project in Saudi Arabia. The firm won the project in a 2021-’22 tender held by the Saudi Government.
Located in Wadi Al Dawasir, the Dawasir Valley, it has a capacity of 119 MW. The project will be developed by the international consortium, led by France’s TotalEnergies, Japan’s Toyota Tsusho, and Saudi’s Altaaqa Renewable Energy (Zahid Group). The financing for the project has been received from Apicorp and Riyadh Bank for a utility-scale solar project in Saudi Arabia.
It may be noted that in the 2021 and 2022 auction, the group had secured a 25-year power purchase agreement (PPA) for the project with Riyadh-based Saudi Power Procurement Co. It offered a levelised cost of energy of SAR0.0700059 ($0.0186920)/kWh.
The construction is expected to begin in early 2025. The group will be responsible for financing, owning and operating the photovoltaic power plant and the Chinese engineering group Sepco has been contracted to build the facility by early 2025.
