The Masdar, EDF Renewables and Nesma consortium finalizes the financing of a 300 MW solar power plant in Saudi Arabia and launches its construction

The Masdar, EDF Renewables and Nesma consortium finalizes the financing of a 300 MW solar power plant in Saudi Arabia and launches its construction

• The consortium made up of Masdar, EDF Renewables and Nesma, which presented the most competitive offer, won the project for a photovoltaic power plant with 300 MW of installed capacity, located in Jeddah.
• The power purchase contract was signed in January 2021. The plant is expected to be commissioned in 2022.

Abu Dhabi, Paris, Riyadh, April 12, 2021 – The consortium composed of Masdar and EDF Renewables, two world leaders in renewable energies, with the Saudi company Nesma, announces that it has completed the financing and launched the construction of a large-scale photovoltaic plant of 300 megawatts (MW), located in Jeddah.

The Saudi Ministry of Energy awarded the Jeddah project with a capacity of 300 MW to the consortium that presented the most competitive offer, namely 60.9042 SAR ($16.24) per megawatt hour. Last January, the consortium signed a 25-year electricity sales contract with the Saudi Electricity Production and Distribution Company (Saudi Power Procurement Company or “SPPC”). Under the contract, the consortium is to design, finance, construct and operate the plant, which will be located 50 km southeast of the city of Jeddah. The plant will be operational in 2022.

Masdar Managing Director Mohamed Jameel Al Ramahi welcomed the deal, saying: “ This project demonstrates Masdar's continued support for the objectives of the Saudi Vision 2030 plan and its climate ambitions. Through its national program for renewable energies, Saudi Arabia is rapidly establishing itself as a global player in this segment. Masdar will continue to work with the Saudi government to drive this clean energy transition, including helping it achieve its target of producing 27.3 GW of renewable electricity by 2024. ".

Bruno Bensasson, Executive Director of the EDF Group in charge of the Renewable Energy Sector, adds: “ We would like to thank the Saudi authorities for officially awarding us the 300 MW Jeddah power plant project last week. We are very pleased to continue our participation in the country's energy transition with this new photovoltaic power plant project, alongside our partners Masdar and Nesma. Following the 400 MW Dumat al Jandal wind farm currently under construction in the north of the country, this solar project underlines our desire to help Saudi Arabia achieve its target of producing 50 % of electricity from renewable sources by 2030. This project clearly demonstrates our ability to submit extremely competitive offers. These large-scale renewable energy production facilities fit perfectly into the EDF group's CAP 2030 strategy, which aims to double its renewable energy capacity on a global scale from 28 to 60 GW net. between 2015 and 2030. ".

Nesma Chairman Faisal Al Turki emphasizes: “ Masdar, EDF Renewables and Nesma will continue to innovate and optimize solar energy projects. The Jeddah plant is an excellent example of how the consortium can best leverage its know-how at international, regional and local levels. ".

The Jeddah solar power plant will be equipped with cutting-edge photovoltaic technology, with bifacial modules fixed on single-axis adjustable structures to follow the curve of the sun and thus maximize electricity production. Latest generation robots will also be used to clean the modules.

In 2019, a consortium led by EDF Renewables, in partnership with Masdar, was chosen to build the Dumat Al Jandal wind farm, with a capacity of 400 MW. This large-scale project, the most powerful in the Middle East, was Saudi Arabia's first foray into wind energy. The park will produce carbon-free electricity by the end of 2022.

About Masdar

Masdar, an Abu Dhabi renewable energy company, contributes to the commercialization and deployment of renewable energy, sustainable urban development and the implementation of clean technologies to address global sustainable development challenges. Masdar, which is wholly owned by Mubadala Investment Company, a strategic investment company of the State of Abu Dhabi, aims to help maintain the UAE's number one position in the global energy sector , while contributing to the diversification of its economy and its energy sources for future generations. Today, Masdar works in the field of renewable energies in the United Arab Emirates, Jordan, Mauritania, Egypt, Morocco, the United Kingdom, the United States, Australia, Spain, Serbia, India , Indonesia, Uzbekistan and other countries.

The power generation capacity of the renewable energy projects in which Masdar is a partner represents more than 5 GW, an investment of approximately $14.3 billion, and spans more than 30 countries.

PRESS CONTACTS

press@masdar.ae;

In Arabic, such:+971 2 653 3333; in English, such as: +971 2 653 6014

For more information : http://www.masdar.ae, facebook.com/masdar.ae and twitter.com/masdar

About EDF Renewables

EDF Renewables is an international leader in renewable electricity production with installed wind and solar capacity of 13.8 GW gross worldwide. Mainly present in Europe and North America, EDF Renewables continues its development by taking a position in promising emerging markets such as: Brazil, China, India, South Africa and the Middle East. Historically active in onshore wind power and photovoltaics, the Company is now strongly positioned in offshore wind power and new technologies such as energy storage. EDF Renewables ensures the development and construction of renewable energy projects as well as their operation and maintenance. EDF Renewables is a subsidiary of the EDF group.

For more information : www.edf-renouvelables.com

Follow us on Linkedin: https://www.linkedin.com/company/edf-renouvelables and on Twitter @EDF_RE in French and @EDF_Renewables in English.

PRESS CONTACTS

Manon de Cassini-Hérail ▪ Tel.: +33 (0)1 40 90 48 22 ▪ Email: manon.decassini-herail@edf-en.com

Nesma Holding Company

Nesma Holding is a private Saudi company which manages a portfolio of interests in various companies in Saudi Arabia, Dubai, Egypt and Turkey. Nesma Holding and its subsidiaries have long enjoyed a reputation for financial strength and stability acquired through many years of sound management and practices at all levels. Nesma's business integrity and quality standards translate into incomparable products and services, intended for both businesses and individuals. Since the founding of Nesma Holding in 1979, the creation of joint ventures and partnerships with companies from all countries, as well as the acquisition and development of subsidiaries, have consolidated its reputation as a serious player in the economic diversification of Saudi Arabia. Arabia. At Nesma, we aim to become the most respected conglomerate in all our countries of operation. Nesma's mission is to bring innovative ideas to life, both in the business world and on a social level. Today it has a diversified portfolio of companies belonging to different sectors, such as:

• engineering and construction;
• water and electricity;
• services to businesses and individuals;
• transport and maritime services;
• materials and manufacturing;
• technology ;
• distribution and consumer products;
• investment and finance.

PRESS CONTACTS

Rana Abdullah Zumai rana.z@nesma.com

Such. : 12663322 Ext.1215 Mobile: +966594313045