The Dumat Al Jandal project will be the first utility-scale wind farm in Saudi Arabia – located 560 miles north of Riyadh – and the largest project of its kind in the Middle East.
The winning consortium submitted the most cost competitive bid of $21.3(£17)/MWh of electricity during a call for tenders in August 2017.
The wind farm will supply electricity under a 20-year power purchase agreement (PPA) with the Saudi Procurement Company, a subsidiary of Saudi Electricity Company (SEC).
Construction is expected to begin shortly and commercial operation is scheduled for the first quarter of 2022.
Masdar CEO Mohamed Jameel Al Ramahi said: “The award of Saudi Arabia’s first and the Middle East’s largest wind farm during Abu Dhabi Sustainability Week in January was a momentous occasion for our company and our partners.
“It also illustrated the depth of Saudi Arabia’s commitment to realise its bold strategy to substantially increase the contribution of renewables in its total energy mix to 27.3GW by 2024, from wind as well as solar energy. The over-subscribed financing of the Dumat Al Jandal project further illustrates the confidence of local and international lenders, and the investment community, in the economy of the Kingdom and its potential as a hub for highly cost-effective renewable energy development.”