Wind power systems project to contribute 15% to Al Yamamah Steel’s revenue, its president says

The project was announced last February, with an investment of around $80mln, and is expected to be completed by the second quarter of 2023

  
Image used for illustrative purpose. Wind turbines and electricity pylons flank the Mehrum coal-fired power plant (Kohlekraftwerk Mehrum) on March 4, 2013 near Hohenhameln, Germany.

Image used for illustrative purpose. Wind turbines and electricity pylons flank the Mehrum coal-fired power plant (Kohlekraftwerk Mehrum) on March 4, 2013 near Hohenhameln, Germany.

Getty Images/Sean Gallup
 
Saudi Arabia - The new wind energy systems project of Al Yamamah Steel is expected to generate 15 percent of its total revenue, the company’s president Youssef Bazaid said.

The project was announced last February, with an investment of around SR300 million, and is expected to be completed by the second quarter of 2023.

It is part of the company’s renewable energy transition, following the creation of a solar energy system in 2019, Bazaid told Al-Arabiya in an interview.

The new project will have a capacity of 520 megawatts (MW) per year, which only covers 35 percent of its 1600 (MW) target in the coming years.

It will only initially serve domestic demand, Bazaid said.

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