Saudi Arabia Signs Agreement for 700MW Yanbu Wind Energy Project

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The Saudi Power Procurement Company (SPPC) has signed a Power Purchase Agreement (PPA) for the 700 MW Yanbu Wind Energy project under the National Renewable Energy Program (NREP).

The total investment o the project is over SAR1.7 billion (US$458 million). The agreement was signed with a consortium of MARUBENI Corporation and Abdulaziz Al Ajlan Sons Co. For Commercial and Real Estate Investment (Ajlan & Bros). The Yanbu project is located in the Madinah Region, with a Levelized Cost of Electricity (LCOE) of 1.72468 US Cent/kWh (6.46755 Halala/kWh).

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