The Saudi Arabian General Investment Authority (SAGIA) announced that it has initiated the process to give an investment license to the consortium of Abu Dhabi Future Energy Company – Masdar and EDF Renewables which last week was awarded the Kingdom’s first utility scale wind project at Dumat Al Jandal.
SAGIA made the announcement at the World Future Energy Summit, part of Abu Dhabi Sustainability Week, where it is showcasing investment opportunities in the Kingdom within energy, renewables, energy efficiency as well as water and integrated waste management.
Last week, the Renewable Energy Project Development Office (REPDO) of Saudi Arabia’s Ministry of Energy, Industry and Mineral Resources (MEIM) announced that it had awarded its first utility-scale wind project to the consortium. The average annual generation from the wind plant is expected to be around 1.4 TWh. Four bids were received from leading companies across five countries, registering a new record low bid-range for a project of this type in the MENA region. Read more