Saudi signs two wind energy purchase agreements with Japanese consortium: A Japanese consortium led by Marubeni signed two power purchase agreements (PPAs) with the Saudi Power Procurement Company (SPPC) to buy green energy from the 600 MW Al Ghat and the 500 MW Waad Al-Shamal wind projects currently in the works, according to a statement.

World record prices achieved: The Marubeni consortium submitted a new world record low cost of electricity production for the Al Ghat project, winning the bid at an impressive USD 1.56558 cents per kWh. Its bid for the Waad Al-Shamal was not far behind, achieving a second world record low for wind power prices standing at USD 1.70187 cents per kWh.

About Al Ghat wind project: The Al Ghat onshore wind farm has a planned capacity of 600 MW and will be located in Riyadh, according to Power Technology. Construction is set to begin this year, with operations scheduled to commence in 2026.

About Waad Al-Shamal wind project: The Waad Al-Shamal wind farm has a capacity of 500 MW and is planned to be located in the Northern Borders province of Saudi Arabia according to Power Technology. Construction has not yet begun, but is expected to be completed in one phase, with commissioning set for 2026.

Marubeni’s not new to the region: Marubeni was part of a consortium that signed with the Emirates Water and Electricity Company and Tadweer Group to develop an Abu Dhabi-based greenfield waste-to-energy (WtE) independent power project. Marubeni is also working on producing sustainable aviation fuel from solid municipal waste, organic waste, and green hydrogen from sewage treatment in Dubai with Enoc Marketing and Belgium’s Besix. The company also signed a power purchase agreement with Arabian Centres Company and FAS Energy to power Cenomi's centers in the kingdom with solar energy, amongst other regional agreements.

OTHER DEVELOPMENTS WORTH KNOWING ABOUT THIS MORNING-

  • Saudi Crown Prince Mohammed bin Salman and Japan’s Prime Minister Fumio Kishida discussed cooperation on clean energy including green hydrogen and ammonia. (SPA)
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