Al-Jouf Agricultural Development Company has embraced Saudi Arabia’s Vision 2030 and the Ministry of Environment, Water, and Agriculture’s strategy to preserve natural resources and prioritize sustainability and clean energy initiatives.
They are thrilled to announce the signing and award of a 25-year solar power purchase agreement with the French energy company, Engie, on August 30, 2023.
The project will be located at the company’s site in the Busaita area, within the industrial complex that houses olive oil and pickles factories, as well as a French fries factory, with a combined capacity of 8 MW.
The contract involves the purchase of solar energy from Engie, aligned with the actual energy consumption of the facilities and at a lower cost compared to the current production expenses.
Al-Jouf Agricultural Development Company will not require additional financing for project implementation, as there will be no capital or operating expenses on their part.
The average annual payments under this contract will amount to SAR 2.9 million per year for the duration of the agreement. The construction of the project is set to commence on September 30, 2023, with operations scheduled to start on September 30, 2024.
