ENGIE-led consortium closes financing for Saudi largest solar-powered water desalination plant

The plant, supplying potable water to Jubail and Dammam, will have a 60MW capacity solar facility - the largest in-house solar capability for a desalination plant in the Kingdom

  
Image used for illustrative purpose. A Saudi man walks on a street past a field of solar panels at the King Abdulaziz city of Sciences and Technology, Al-Oyeynah Research Station.

Image used for illustrative purpose. A Saudi man walks on a street past a field of solar panels at the King Abdulaziz city of Sciences and Technology, Al-Oyeynah Research Station.

REUTERS/Fahad Shadeed
RIYADH: Saudi Water Partnership Company (SWPC), in association with the consortium led by France-headquartered ENGIE has achieved financial close on the Jubail 3B Independent Water Project (IWP), the largest solar-powered water desalination project in the Kingdom.

The project is part of the water schemes in Saudi Arabia developed under the public-private-partnership (PPP) structure, Engie said in a statement. The consortium is developing and financing the desalination plant, which will be operated and maintained by ENGIE. The Jubail 3B project was awarded by SWPC as a build, own, operate (BOO) contract, with commercial operation expected in 2024, it said.

ENGIE holds 40 percent of the project, while Saudi based Nesma Co. and Abdulaziz Al Ajlan Sons for Commercial and Real Estate Investment hold 30 percent each.

On 29 April, SWPC awarded the ENGIE-led consortium a 25-year Water Purchase Agreement, and the contract was signed on 22 June.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Energy