The Saudi Power Procurement Co (SPPC) on 21 May signed power procurement agreements (PPAs) with a consortium led by Japan’s Marubeni for two wind farm developments in Saudi Arabia with combined capacity of 1.1GW. The agreements set new record low tariffs for wind projects.

“I am pleased to announce that the Al-Ghat project has set a new world record for the lowest cost of electricity production from wind energy,” Saudi Energy Minister Prince Abdulaziz bin Salman told the signing ceremony at the Saudi-Japan Vision 2030 Business Forum in Tokyo, adding that “the annual energy produced by both projects will be sufficient for the consumption of 257,000 residential units, demonstrating the significant success of these projects in enhancing energy efficiency in the Kingdom.” (CONTINUED - 777 WORDS)