Masdar, EDF Renewables, and Nesma Company have secured the development of the Al Henakiyah solar power plant, a groundbreaking 1.1 GW project in the province of Al Madinah, Saudi Arabia. The consortium, chosen for its highly competitive offer, signed a Power Purchase Agreement with Saudi Power Procurement Company (SPPC).
With an estimated project value of $1 billion, the Al Henakiyah solar power plant is set to be one of the world's largest upon completion in 2025. Its annual electricity output will match the consumption of around 190,000 homes while preventing the emission of more than 1.8 million tonnes of CO2 yearly.
In alignment with Saudi Arabia's Vision 2030 plan, the project aims to increase the share of renewable energies in the country's energy mix to approximately 50% by 2030. The initiative will also contribute to the local economy, with at least 19% of the project's equipment, materials, and services sourced from Saudi companies during the construction phase.