Abu Dhabi’s clean energy firm, Masdar, in collaboration with EDF Renewables and Saudi Arabia’s Nesma Company, has entered into a power purchase agreement with the Saudi Power Procurement Company to oversee a $1B solar project in the Al Madinah province of Saudi Arabia. The consortium secured the Al Henakiyah solar power project, boasting 1,100-megawatt capacity, by submitting the lowest bid at $16.84 per megawatt hour. The project will be constructed, owned, and operated by the consortium under a 25-year agreement with SPPC.
