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Al Jouf Cement Company, Saudi Arabia announces the signing of an agreement with the French company Engie to construct and operate a solar power plant at the company’s site in the city of Turaif, with a generation capacity of 22 megawatts.
The agreement is based on the construction and operation of a solar power plant for 25 years.
The company will purchase the electricity generated from the plant for 25 years starting from the actual commencement of the plant’s operations.
The company stated that, the cost will be lower than the company’s current production costs from its heavy fuel oil power plant and lower than the industrial electricity costs if connected to the national grid.
The solar power plant is expected to contribute approximately 25% of the company’s electricity needs upon completion. Al Jouf Cement Company will not incur any financing for the project, as it will not bear any capital or operational expenses.
The contract will also have a positive environmental impact by reducing carbon emissions by 1,481,100 tons, supporting the government’s efforts to preserve the environment in the energy-intensive cement sector.
The Project is in line with Saudi Vision 2030 and the Saudi Green Initiative (SGI) to reduce carbon emissions, and in accordance with Al Jouf Cement Company’s strategy to enhance the consumption of renewable energy, |
