A wind farm in the Kingdom’s northwest has won an international award for its low production costs. The project, which generates electric power from wind energy in Dumat Al-Jandal, won the 2019 Middle East and Africa Power Deal of the Year award, one of the annual Project Finance International Awards, Arab News reported.
It was one of the projects put forward by the Renewable Energy Project Development Office (REPDO) at the Ministry of Energy.
It achieved a new record in scoring the lowest flat cost of electricity production amounting to $0.0199 per kilowatt-hour (kWh) at the financial closure of the project (when all the financial documents of a projects have been signed and conditions have been fulfilled), which has a targeted production capacity of 400 megawatts (MW), exceeding the global benchmarks for production costs.
The award was received by the head of REPDO, Faisal bin Abdullah Al-Yemni, as well as the project’s developers and consultants during a London ceremony that was attended by project finance leaders from all over the world.
Dumat Al-Jandal is the largest project of its kind in the region and is Saudi Arabia’s first wind energy project to win an award.
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