UAE - Mubasher: The consortium led by Abu Dhabi's Masdar with France’s EDF Renewables and Saudi Arabia-based Nesma Company has completed the financial close for a 300-megawatt (MW) utility-scale photovoltaic (PV) solar power plant in Jeddah in Saudi Arabia and is starting construction.

The consortium has been awarded the Jeddah project following the submission of the most cost-competitive bid of SAR 60.9042 ($16.24) per megawatt-hour, according to a recent press release.

In January, the consortium entered into a 25-year Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC) for the project to design, finance, build, and operate the plant, which will start its operation in 2022.

The project will combine bifacial PV modules with structures using single-axis tracking technology to maximise energy generation by following the sun’s position throughout the day. 

The CEO of Masdar, Mohamed Jameel Al Ramahi, said: "Through its National Renewable Energy Program, Saudi Arabia is fast developing into a global renewable energy player, and Masdar will continue to work closely with the Saudi government and our partners here to help the Kingdom achieve its clean energy transition."

Meanwhile, EDF Group Senior Executive Vice-President Renewable Energies, Bruno Bensasson, commented: "After the 400 MW Dumat al Jandal wind power farm currently under construction in the North of the Kingdom, this solar project highlights our strong commitment to contribute to Saudi Arabia’s goal to produce 50% of its electricity from renewable sources by 2030."