EDF-to-build-1.4-GW-solar-parks-in-Saudi-Arabia

EDF to develop 1.4 GW of solar parks in Saudi Arabia

RIYADH, December 9, 2024 – EDF Renewables has signed a power purchase agreement with the Saudi Power Procurement Company (SPPC) for the development of the 1-GW Al Masa’a and the 400-MW Al Henakiyah2 solar power parks, EDF announced on Friday.

The two projects will be carried out by EDF Renewables in consortium with China’s SPIC Huanghe Hydropower Development Company and will command an estimated investment of USD 850 million.

Financial close for the Al Henakiyah2 facility is expected in early 2025, with connection to the Saudi grid scheduled for Q4 2026. Al Masa’a is expected to become operational in 2027. EDF Renewables and SPIC HHDC will build, own and operate the facilities as part of the 25-year agreement with SPCC.

“These projects will increase our renewables asset capacity up to 3.5 GW in Saudi Arabia, paving the way for a future of sustainable growth and positive impact for the future generations,” said Beatrice Buffon, EDF group vice-president, international division and chairwoman and CEO of EDF Renewables.

Once operational, the solar plants will generate enough electricity to power an estimated 240,000 households and are expected to displace more than 2.7 million tonnes of carbon dioxide per year.

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