NADEC completes construction of solar energy project, begins commercial operation

Logo of National Agricultural Development Co.

National Agricultural Development Co. (NADEC) completed the construction works on the second phase of the 30 megawatts (MW) solar energy project in Haradh.

The company announced the commencement of the qualification of the commercial operation of the project, according to a bourse filing today, Nov. 1.

In August, NADEC had completed the construction works on the solar energy project by operating 10 MW, Argaam reported.

The firm’s preliminary estimates expected a decrease in fuel consumption after operating 10 MW in the range of 2.9 million liters, which will reduce energy costs by SAR 740,000. These savings will begin to reflect gradually in the Q4 2021 financial results.

The total expected decrease in fuel consumption after operating the entire project (30 MW) will be around 16 million liters, or SAR 4.1 million, which will lower NADEC’s energy costs by 4%.

In July 2019, NADEC signed a solar power purchase agreement (PPA) with France-based World Energy Actor (ENGIE) for 25 years to set up a 30 MW solar power project in NADEC City, Haradh, through integration with the company’s current energy resources.