EPC Contract signed for 300 MW solar project in Saudi Arabia
El Sewedy Electric for Transmission & Distribution, a subsidiary of Elsewedy Electric Company, has signed a contract with Al Ghazala Energy Company (subsidiary of Jinko Power) to build a solar power station with a capacity of 300 MW in Saudi Arabia.
The announced contract amount is US$176.10 million. The project will be implemented on a turnkey basis within 16.5 months and 29 months given for operation and maintenance. El Sewedy Electric for Transmission & Distribution will mainly focus on the design, supply, and installation of the entire project, according to a recent stock exchange filing.
The Power Purchase Agreement for a term of 25 years was signed in March 2022 with Saudi Power Procurement Company. Jinko Power has reached a financial close and begun construction works for the project. It is scheduled for commissioning in Q4 2024.
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