A consortium comprising energy companies Masdar, EDF Renewables and Nesma Company has sealed a Power Purchase Agreement (PPA) with the Saudi Power Procurement Company to develop the 1,100MW Al Henakiyah solar power plant.
Situated in the Al Madinah province, this project is poised to become one of the largest single-site solar facilities globally.
Once operational, it is projected to power over 190,000 homes annually.
The estimated cost of this project is approximately $1 billion (£810m).
Financial closure for the Al Henakiyah Solar Plant is expected in early 2024, with grid connection slated for 2025.
