Saudi Arabia's first wind project reaches financial close

The consortium comprising EDF Renewables and Abu Dhabi Future Energy Company (Masdar) has completed the financing for the $500-million Dumat Al Jandal wind project in Saudi Arabia, it said in statement on Monday.

The funding has been secured from Saudi and international banks, it said, without disclosing bank names.

Project construction will begin shortly with commercial operations expected to start in the first quarter of 2022.

Vestas will be responsible for the engineering, procurement and construction (EPC) contract. TSK will be responsible for the balance of plant, while CG Holdings will provide the substations and high-voltage solutions.

In January, the consortium was awarded contract by the Saudi Ministry of Energy, Industry and Mineral Resources following the submission of a bid of 21.3 per megawatt hour (MWh) for the project.