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PPAs signed for seven solar power projects in Saudi Arabia

PPAs signed for seven solar power projects in Saudi Arabia
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Marubeni Signs a Power Purchase Agreement, Project Finance Agreement and Commences EPC Work for the Rabigh Solar PV IPP Project in the Kingdom of Saudi Arabia

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Marubeni Signs a Power Purchase Agreement, Project Finance Agreement and Commences EPC Work for the Rabigh Solar PV IPP Project in the Kingdom of Saudi Arabia
Apr. 09. 2021
Marubeni Corporation
Marubeni Corporation (hereinafter, “Marubeni”) signed a Power Purchase Agreement with the Saudi Power Procurement Company (hereinafter, “SPPC”) through a Special Purpose Company (hereinafter, “SPC”) established with Al Jomaih Energy & Water Company Limited (hereinafter, “Al Jomaih”) in January 2021. In March 2021, a loan agreement for limited-recourse project financing for the Rabigh Solar PV IPP Project was signed, and EPC (Engineering, Procurement and Construction) work on the project proceeded the following month.
The SPC will develop, construct, operate, and maintain the 300MW capacity solar PV plant, which will be located in the Rabigh Industrial City of Makkah Province, on land leased by The Saudi Authority for Industrial Cities and Technolo ....

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