A world consortium – led by TotalEnergies, Toyota Tsusho, and Altaaqa Renewable Vitality – has secured challenge financing from Apicorp and Riyadh Financial institution for a utility-scale photo voltaic challenge in Saudi Arabia.

The group secured a 25-year energy buy settlement (PPA) for the challenge with Riyadh-based Saudi Energy Procurement Co. in an public sale held between 2021 and 2022. It affords a levelized power price of SAR0.0700059 ($0.0186920)/kWh . The plant has a capability of 119 MW and can be situated in Wadi Al Dawasir, within the Dawasir Valley.

Building is anticipated to start in early 2025. Chinese language engineering group Sepco has been contracted to construct the ability.

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