National Agriculture Development Company (NADEC) said that it has now completed the construction of the second and the last phase of its 30-megawatt solar plant in Haradh.
In a statement, the Saudi Arabian company said that it is now working on the commercial operation of the facility.
NADEC is a unit of the Public Investment Fund (PIF) which is Saudi Arabia’s sovereign wealth fund. The company will also review the impact of the actual energy savings of the plant in Q4 of 2021.
The previous estimates showed that there can be a cut in fuel consumption by 16,000 litres with the 30 MW solar plant facility. This will also bring down the energy costs of the company’s energy by 4% and save $1 million.
In 2019, the company signed a 25 year PPA with Engie for establishing a solar energy project.