TotalEnergies-led group nails financing for 119 MW of solar in Saudi Arabia
27 June 2023
An international consortium – led by TotalEnergies, Toyota Tsusho, and Altaaqa Renewable Energy – has secured project financing from Apicorp and Riyadh Bank for a utility-scale solar project in Saudi Arabia.
The group secured a 25-year power purchase agreement (PPA) for the project with Riyadh-based Saudi Power Procurement Co. in an auction held between 2021 and 2022. It offered a levelized cost of energy of SAR0.0700059 ($0.0186920)/kWh. The plant will have a capacity of 119 MW and will be located in Wadi Al Dawasir, in the Dawasir Valley.
Construction is expected to begin in early 2025. Chinese engineering group Sepco has been contracted to build the facility.
Related
-
ACWA Power Appoints Kent as Owner’s Engineer for Yanbu Green Hydrogen Hub in Saudi Arabia
6 October 2025
-
CPB Contractors to build Australian primary school
6 October 2025
-
Eni to invest $8bn in Egypt’s energy sector
1 October 2025
-
China’s Asia-Potash plans $1.6bln fertiliser complex in Algeria
30 September 2025
-
Qatar’s UCC Holding announces the launch of Damascus International Airport Project
29 September 2025
-
Wabtec secures $4.2bn locomotive order from Kazakhstan
29 September 2025