TotalEnergies’ Group Procures Financing for 119 MW of Solar Project in Saudi Arabia
The development of the project is anticipated to commence in early 2025.
July 01, 2023. By EI News Network
An international consortium managed by TotalEnergies, Toyota Tsusho, and Altaaqa Renewable Energy – has procured project financing from Apicorp and Riyadh Bank for a utility-scale solar project in Saudi Arabia.
The group procured a 25-year power purchase agreement (PPA) for the project with Riyadh-based Saudi Power Procurement Co. in a tender organised between 2021 and 2022. The plant will have a capacity of 119 MW and will be located in Wadi Al Dawasir, in the Dawasir Valley.
The development of the project is anticipated to commence in early 2025. Chinese engineering group Sepco has been moved further to build the amenity.
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