Dumat Al-Jandal Wind Farm Project has won the Project Finance International (PFI) Renewable Deal of the Year in Middle East and Africa Award for 2019.
This also comes after the project achieved a new record. As it recorded the lowest flat rate of electricity generation of $0.0199 per Kilowatt hour.
The project is the first awarded-project in the Kingdom to produce electricity from wind energy within the framework of the National Renewable Energy Program and the largest project of its kind in the region.
Dumat Al-Jandal is a 400MW onshore wind farm development that will become Saudi Arabia’s first utility-scale wind power source.
The biggest regional project of its kind, Dumat Al-Jandal is being developed by a consortium of EDF Renewables (51%) and Masdar (49%) under an award by the Renewable Energy Project Development Office (REPDO).
With an estimated $500m cost, the project will also contribute $150m to the country’s GDP.
Saudi Arabia’s Ministry of Energy, Industry and Mineral Resources also monitors the project.
The wind farm forms the second part of the first round of procurement under the National Renewable Energy Programme (NREP), which is aiming to reduce carbon emissions.
It will also allow achieving the first phase of NREP’s target of 9.5GW renewable energy by 2023. This is in accordance with Saudi Arabia’s Vision 2030, which intends to reduce the country’s oil dependence.