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TAQNIA ENERGY, KACST & Saudi Electricity Co. to build

FIRST SOLAR INDEPENDENT POWER PRODUCER IN KSA

TAQNIA ENERGY, KACST, & Saudi Electricity Co. to build

FIRST SOLAR INDEPENDENT POWER PRODUCER IN KSA

TAQNIA ENERGY (TE) and King Abdulaziz City for Science and Technology (KACST) have signed a Memorandum of Understanding (MOU) with Saudi Electricity Company to build a 50 MW PV plant in Al-Aflaj (Layla Plant). The 50-MW solar facility will become the first solar Independent Power Producer (IPP) agreement in Saudi Arabia. The Agreement is to construct, operate and maintenance contract for the independent power project for 25 years by TAQNIA ENERGY, at a tariff starts at 5 US cents (18.75 Halalas) per kilowatt-hour

Layla Plant aims to increase the contribution in the local content, indigenizing technology and creating new job opportunities by using locally produced solar panels. The Photovoltaic (PV) modules will be supplied locally from KACST PV solar module production line. TE aims to increase the local content and to contribute to the know-how transfer and job creation.

The project will help to save 4 million barrels of high-cost diesel fuel, and limit harmful and toxic gases emission, by 1.7 million tons of CO2.

There is a marked increase in solar energy projects in the global energy market, but are at an early stage in KSA. Thus, we believe this project is going to pave the road for solar project in the Kingdom, to encourage the movement toward creating a sustainable energy industry that is contributing to the GDP. By successfully implementing the project, TE will have contributed in the facilitation of the development for renewable energies, since we are now going through new development experience in the country (getting permits, industrial licensing, finalizing solar PPA, and local funding … etc.).