One of the world’s largest single-site solar plants, the Al Henakiyah Solar Plant in Al Madinah province of Saudi Arabia, is expected to play a vital role in increasing the share of renewable energy to around 50 per cent in the country’s energy mix by 2030.
According to a statement from Mohamed Jameel Al Ramahi, CEO of Masdar, the project will be developed, built, owned, and operated by a consortium as part of a 25-year agreement with the off-taker SPPC.
To boost the local economy, at least 19 per cent of the equipment, materials, and services will be provided by Saudi companies during the construction phase. Additionally, Saudi nationals will make up 50 per cent of the project’s workforce during the first 10 years of operations, which will increase to 75 per cent over the project’s operational life. The project has the goal to power more than 190,000 homes annually and displace over 1.8 million tonnes of carbon dioxide emissions each year.
Furthermore, this initiative reflects a commitment to achieving the targets set out under Vision 2030 and the Saudi Green Initiative, as the country moves towards net zero emissions by 2060. Bruno Bensasson, Chairman and CEO of EDF Renewables, reaffirmed this sentiment by expressing his commitment to creating lasting value and nurturing a legacy of positive change in the Kingdom for generations to come.
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