FINANCE
WWW.CONSTRUCTIONWEEKONLINE.COM 3 - 30 AUGUST, 2019 CONSTRUCTION WEEK 9Financial close has been
reached for Saudi Arabia’s
400MW Dumat Al Jandal
wind park – located 896km
north of Riyadh, in the Al
Jouf region of Saudi Arabia
- that is being developed
by a consortium of French
renewable energy firm EDF
Renewables and Abu Dhabi
Future Energy Company
(Masdar) at a cost of $500m
(SAR1.9bn), with investments
secured from Saudi Arabian
and international banks.
The Emirati-French
consortium was awarded the
project in January 2019 by
Renewable Energy Project
Development Office (Repdo),
part of the kingdom’s Ministry
of Energy, Industry, and
Mineral Resources, after a call
for tenders was announced in
August 2017.
EDF Renewables’ chairman
and chief executive officer,
Bruno Bensasson, said: “We
are delighted to take part in
the first wind project in the
country, which is set to be the
most powerful wind farm in
the Middle East.”
Construction work on the
project — touted as the largest
wind farm in the Middle East
and the first in Saudi Arabia —
is imminent, with operations
set to begin in the first quarter
of 2022, according to UAE
news agency, Wam.
Once operational, Dumat
Al Jandal will produce
electricity under a 20-year
power purchase agreement
(PPA) with Saudi Power
Procurement Company.
Masdar’s CEO, Mohamed
Jameel Al Ramahi, said:
“The over-subscribed
financing of the Dumat
Al Jandal project further
illustrates the confidence
of local and international
lenders, and the investment
community, in the economy
of the kingdom and its
potential as a hub for highly
cost-effective renewable
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use project in Mankhool area.Dubai Electricity and Water
Authority (Dewa) is set to
build 68 substations worth
$2.2bn (AED8bn) to meet
growing demands for power
in the emirate over the next
three years.
This July, Dewa said it had
already started constructing
some of the 132/11-kilovolt
(kV) substations in Hassyan
and at Mohammed bin
Rashid Al Maktoum
Solar Park, with upgrade
projects also in the utilities
authority’s pipeline.
The investment is part
of Dewa’s commitment to
expand the infrastructure
required for additional
electricity and water
across Dubai.
Dewa’s chief executive
officer, HE Saeed
Mohammed Al Tayer, said
the authority was committed
to enhancing the efficiency
of electricity transmission
networks, while ensuring
electricity services for
Dubai’s people, industry,
and economy.
He added: “Up until the end
of last year, Dewa established a
total of 258 main substations of
132/11kV in 2018.”UAE’s Dewa to invest
$2.2bn for 68 subtations
EDF, Masdar note Ȍ nancial
close on Dumat Al Jandal