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Marubeni Corporation has been awarded and has finalized a Power Purchase Agreement with the Saudi Power Procurement Company (SPPC) for the Al-Ghat and Waad Al-Shamal Wind Independent Power Producer (IPP) projects in Saudi Arabia. Partnering with Abdulaziz Alajlan Sons for Commercial & Real Estate Investment Company – Ajlan & Bros, Marubeni will develop, construct, operate, and maintain these wind projects.
The Al-Ghat Onshore Wind IPP Project will have a capacity of 600MW and will be located in Al-Ghat, Riyadh Province. The Waad Al-Shamal Onshore Wind IPP Project, with a 500MW capacity, will be situated in Turaif, Northern Borders Province. SPPC will purchase the power produced from these projects for 25 years after they commence operations. Notably, these are the first wind projects in Saudi Arabia to involve a Japanese company.
Marubeni views Saudi Arabia, which is experiencing significant growth, as a key market in the Middle East and Northern Africa (MENA) region. The company is already involved in several projects in the country, including the Rabigh Solar PV IPP Project (300MW), a rooftop solar PV project, a district cooling business, and a clean hydrogen project. These ventures align with Marubeni’s long-term climate change vision and its mid-term management strategy, GC2024, which emphasizes a green strategy to enhance corporate value.
Through these wind projects, Marubeni aims to contribute to a stable power supply from renewable sources and support decarbonization efforts, reinforcing its commitment to green business initiatives both in Saudi Arabia and globally. |
