Saudi wind farm wins international award

Saudi wind farm wins international award

A wind farm in the Kingdom's northwest has won aninternational award for its low production costs. The project, which generateselectric power from wind energy in Dumat Al-Jandal, won the 2019 Middle Eastand Africa Power Deal of the Year award, one of the annual Project FinanceInternational Awards.

It was one of the projects put forward by the RenewableEnergy Project Development Office (REPDO) at the Ministry of Energy.

It achieved a new record in scoring the lowest flat cost ofelectricity production amounting to $0.0199 per kilowatt-hour (kWh) at thefinancial closure of the project (when all the financial documents of aprojects have been signed and conditions have been fulfilled), which has atargeted production capacity of 400 megawatts (MW), exceeding the globalbenchmarks for production costs.

The award was received by the head of REPDO, Faisal binAbdullah Al-Yemni, as well as the project's developers and consultants during aLondon ceremony that was attended by project finance leaders from all over theworld.

Dumat Al-Jandal is the largest project of its kind in theregion and is Saudi Arabia's first wind energy project to win an award.

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