One of our projects has received a prestigious regional award. Dumat Al Jandal (DAJ), the first wind farm in Saudi Arabia and the largest development of its kind in the Middle East, has won the Renewable Deal of the Year at the annual Project Finance International (PFI) Awards, in the Middle East and Africa category.
The Renewable Deal of the Year category recognises a project that has demonstrated outstanding project financing.
DAJ is a monumental project for which we submitted the most cost-competitive bid at $21.3 per MWh. When operational, it will displace nearly one million tonnes of carbon dioxide each year.
Located 900 kilometers north of Riyadh in the Al Jouf region, the project is owned by a consortium comprising Masdar and EDF Renewables. The 400 megawatt (MW) farm benefits from a 20-year power purchase agreement (PPA) with the Saudi Power Procurement Company, a subsidiary of the Saudi Electricity Company.
Held in London, the PFI awards are one of the financial industry’s most prestigious global events, attracting hundreds of the world’s most senior project finance professionals.