"Union Water and Electricity" Within an alliance to implement a project "Dawadmi" Wind energy in Saudi Arabia
Abu Dhabi, 5 November / WAM / Union Water and Electricity Company announced that it has won, as part of an alliance that includes the Korean Electric Power Company “KEPCO” and Nesma Renewable Energy Company, a new project to produce electricity from wind energy in the Kingdom of Saudi Arabia, with a capacity of 1,500 megawatts, and a production cost of 5.01760 halalas, or the equivalent of 1.33803 US cents per kilowatt hour.
The project implementation contract was awarded in the presence of His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, Chairman of the Board of Directors of the Saudi Energy Procurement Company.
The project, called “Al-Dawadmi”, set a new record as the lowest cost of producing electricity from wind energy in the world.
His Excellency Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, and Chairman of the Board of Directors of the Union Water and Electricity Company, said that this step consolidates the depth of the Emirati-Saudi partnership and its integration in the clean energy sector, pointing out that
The participation of a leading national company such as Union Water and Electricity in a qualitative project of this size confirms the ability of national competencies and companies to contribute effectively to achieving energy security and sustainability, regionally and internationally, and accelerating the pace of transition towards a low-carbon economy, in line with the UAE’s goals for climate neutrality 2050, and supports the vision of the sister Kingdom of Saudi Arabia 2030.
For his part, Engineer Yousef Ahmed Al Ali, CEO of Union Water and Electricity, said that the Dawadmi wind energy project, which recorded the lowest global cost in the sector, is an achievement that reflects the strength of development and financing models in the region.
He explained that this company’s participation in the project is consistent with its strategic orientations towards responsible investment in renewable energy assets, stressing that it continues to work with its partners at home and abroad to facilitate the transfer of expertise and apply the best technical and environmental standards to enhance the reliability and efficiency of the system, which reflects its commitment to translating the directives of the wise leadership into practical steps that support the achievement of national strategies related to energy, sustainability, and climate neutrality.
The Dawadmi wind energy project represents a new addition to renewable capabilities in the Kingdom of Saudi Arabia, and contributes to reducing electricity production costs and raising the efficiency of the system in the long term. It also reflects the success of the National Renewable Energy Program in attracting leading international and regional alliances, deepening confidence in the investment environment, and accelerating energy transmission projects at the level of the Arabian Gulf.
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