A consortium comprising Korea Electric Power Corporation (KEPCO), Nesma Renewable Energy Company Ltd., and Etihad Water and Electricity Company PJSC (EtihadWE) signed a 25-year Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC) for the development of the 1,500 MW Wind IPP Plant.
The Project location is in Dawadmi in the Central province of Saudi Arabia.
The Project is part of the the sixth round of renewable energy projects under the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy.
The project sets a new global record for the lowest cost of wind power generation, at less than 1.4 US cents per kilowatt-hour (kWh). The project will be developed, financed, built, owned, and operated by the consortium.
