A consortium consisting of TotalEnergies from France, Toyota Tsusho from Japan, and Altaaqa Renewable Energy (Zahid Group) from Saudi Arabia has secured financing for the construction of a 119 MWp solar photovoltaic power plant in Wadi Ad-Dawasir.
The project, part of Saudi Arabia’s National Renewable Energy Program, has reached a significant milestone with the completion of a financial close involving local lenders APICORP and Riyadh Bank.
The consortium, responsible for the development, ownership, and operation of the plant, has signed a Power Purchase Agreement (PPA) with the Saudi Power Procurement Company.
With this achievement, TotalEnergies solidifies its position as a major player in renewable energy in the region, complementing its existing projects in Iraq, Qatar, and the UAE.
The company’s long-standing presence in Saudi Arabia allows it to actively contribute to the country’s energy transition and support local initiatives.
