Yanbu Industrial City (Royal Commission for Jubail and Yanbu) signed a Memorandum of Understanding (MoU) with Saudi Basic Industries Corporation (SABIC) and “Marafiq” Company to study the construction of a solar power plant in the industrial city.
The station is expected to be the first large renewable energy project implemented by the private sector in Saudi Arabia. It is likely that the capacity of this project will be between 200 and 400 MW. It is also planned that Marafiq will purchase the entire production of this project, while ensuring a 100% repurchase by SABIC or one of its subsidiaries under the long-term energy purchase agreement.
“The project is of great economic and environmental importance, as it will increase energy efficiency and benefit from solar energy, as well as preserving the environment and reducing polluting emissions,” said Adnan Al-Alouni, CEO of Yanbu Royal Commission.
