Al-Jouf Agricultural Development Co. Announces an update on Al-Jouf Agricultural Development Company Announcement on the Latest Developments Regarding the Signing of a Solar Power Purchase Agreement with ENGIE
With reference to the company’s previous announcements regarding the signing of a solar power purchase agreement with the French energy company ENGIE at the company’s site in the Basita area for the industrial complex dedicated to olive oil and pickles factories, as well as french fries factory, with a capacity of 8 MW through integration with the currently used energy sources, the company would like to inform its shareholders of the latest developments in the project.
Previous Announcement
Al-Jouf Agricultural Development Company Announcement on the Latest Developments Regarding the Signing of a Solar Power Purchase Agreement with ENGIE
Date of Previous Announcement on Saudi Exchange’s Website
2024-10-07 Corresponding to 1446-04-04
Hyperlink to the Previous Announcement on the Saudi Exchange Website
The company would like to announce to its esteemed shareholders that the project is currently in progress and is expected to be completed during the third quarter of 2026.
Reasons For The Delay on The Date of The Event Previously Announced
The company wishes to clarify that the project delay is due to its enrollment in the Liquid Fuel Displacement Program across regions of the Kingdom, which is overseen by the Ministry of Energy. This program requires modifications to the technical designs and electrical connection plans related to the project, in order to ensure compliance with program requirements and integration with the national power grid in accordance with approved regulations.
The costs associated with the event, and if they have changed or not with indication of the reasons.
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