Saudi Arabia signs 2 PPAs for Al Ghat, Wa'ad Al Shamal wind projects

Saudi Power Procurement Co. (principal buyer) and a consortium led by the Japanese Marubeni Co. signed two power purchase agreements (PPAs) for the 600-megawatts (MW) Al Ghat and 500-MW Wa'ad Al Shamal wind farm projects.

The deals were concluded during the Saudi-Japan Vision 2030 Business Forum in Japan.

Al Ghat project achieved a new world record low cost of electricity production from wind power at 1.56558 cents/kWh levelized cost of electricity (LCOE), Saudi Press Agency reported, citing Energy Minister Prince Abdulaziz bin Salman.

Wa’ad Alshamal project has also achieved a second world record low for wind power at 1.70187 cents/kWh LCOE, he added.