KEPCO Consortium Wins USD 2.4 Billion Saudi Wind Project With 1.5 GW Capacity

A consortium including Korea Electric Power Corporation (KEPCO) has secured a major renewable energy contract in Saudi Arabia.

The Saudi Power Procurement Company (SPPC) recently announced the awarding of five new wind and solar projects with a combined generation capacity of 4,500 MW, representing a total investment value of 9 billion Saudi riyals (approximately USD 4 billion).

Among these, the Dawadmi Wind Power Project in Riyadh, with a capacity of 1,500 MW, was awarded to a consortium comprising KEPCO and Nesma, a Saudi renewable energy company. The remaining four projects were allocated to Masdar of the United Arab Emirates, Electricité de France (EDF), and TotalEnergies of France.

Earlier the same day, South Korea’s Vice Minister of Trade, Industry and Energy, Moon Shin-hak, met with Abdullah bin Ali Al-Ahmari, Assistant Minister of Saudi Arabia’s Ministry of Industry and Mineral Resources, in Seoul to explore deeper industrial cooperation between the two nations.

The move reflects growing energy collaboration between South Korea and Saudi Arabia as both nations ramp up renewable energy investments to advance their net-zero and diversification goals.