Latest news with #AljomaihEnergyandWaterCompany
Mid East Info
4 days ago
- Business
- Mid East Info
Aljomaih Energy and Water leads the financial close of the Rabigh 2 Solar Project - Middle East Business News and Information
The consortium successfully completed with a total value of SAR 825 million The Rabigh 2 Solar Independent Power Plant (IPP) has successfully reached financial close on May 15, 2025, under Round 5 projects of Saudi Arabia's National Renewable Energy Program (NREP), which is led and supervised by the Ministry of Energy. The project is being developed by a consortium comprising Aljomaih Energy & Water Company as the lead developer and TotalEnergies Renewables SAS as the consortium partner, underscoring the strong collaboration between leading local and international energy companies. Located in Rabigh, Makkah Province, the Rabigh 2 Solar IPP is implemented under a Build, Own, Operate (BOO) model and will boast a generation capacity of 300 MW. The Saudi Power Procurement Company (SPPC) will purchase the electricity generated over 25 years. The project is financed with a total value of SAR 825 million, supported by a consortium of lenders including Al Rajhi Bank, ADCB, SMTB, and DBS Bank (Hong Kong). Once operational, Rabigh 2 will be capable of powering approximately 53,000 residential units. In this context, Mr. Ibrahim Mohammed Al Abdulaziz Aljomaih, Chairman of the Board of Directors at Aljomaih Energy and Water Company, stated: 'Rabigh 2 Solar IPP reflects our unwavering commitment to supporting the Saudis' ambitious Vision 2030, the National Renewable Energy Program and the Saudi Green Initiative. At Aljomaih Energy and Water, we are proud to collaborate closely with relevant government entities to advance Saudi Arabia's clean energy transition. This achievement is considered a national contribution that supports the Kingdom's leadership in sustainable development.' Eng. Adnan Abdulhadi Buhuligah, Deputy CEO of Aljomaih Energy and Water Company added: 'Reaching financial close on Rabigh 2 is the result of seamless collaboration with our partners, including TotalEnergies, government stakeholders, and our financing institutions. This project exemplifies Aljomaih Energy and Water Company's capability to lead and deliver complex, utility-scale renewable projects with high technological efficiency. It is a model of international partnerships driving forward the Kingdom's renewable energy future.' This project represents a new addition to Aljomaih Energy and Water Company's renewable energy portfolio, as it is located adjacent to the existing South Rabigh Project, which is currently operational and generating 300 MW. The financial close of Rabigh 2 marks a pivotal milestone in the company's journey toward renewable energy transformation. It also reflects the confidence of both local and international developers in the Kingdom's investment environment and the National Renewable Energy Program, led and supervised by the Ministry of Energy, which aims to increase the share of renewable energy sources in the energy mix to approximately 50% by 2030.
Zawya
05-03-2025
- Business
- Zawya
$2.26bln contract signed to establish Jubail-Buraidah pipeline project
BURAIDAH - Emir of Qassim Region Prince Faisal bin Mishaal witnessed the signing of the contract to implement the Jubail-BuraIdah water pipeline project at a total cost of SR8.5 billion. The ceremony was held in the presence of Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadley. This giant project will link the Eastern Province and Qassim regions with desalinated drinking water. Speaking on the occasion, Prince Faisal bin Mishaal said that the project is a pivotal step in supporting economic, agricultural and industrial development in the Qassim region, as it will provide stable water supplies that contribute to meeting the growing needs of the population and vital projects, which will be reflected in the quality of life and sustainability of resources. Eng. Khaled Al-Quraishi, CEO of the Saudi Water Partnership Company, said that the project was offered to investors according to the build-own-operate-transfer (BOOT) model. The alliance of Aljomaih Energy and Water Company, Nesma Limited Company, and Buhur for Investment Company was picked to implement the project out of 32 companies, including 14 Saudi companies, that competed to win the project. Al-Quraishi said that the commercial operation of the project is scheduled to begin in the second quarter of 2029, with a concession contract extending to 35 years from achieving commercial operation. "The project will contribute to improving the efficiency of water transmission, reducing electricity consumption, and meeting the growing needs for drinking water in the Eastern and Qassim regions, in addition to supporting local content by increasing the percentage of localization in businesses and human resources," he added. It is noteworthy that the project represents a pivotal step in enhancing water security in the Kingdom, as it connects the Eastern Province and Qassim with desalinated drinking water, and extends for a distance of 587 kilometers with a transmission capacity of up to 650000 cubic meters per day. The project is also characterized by the possibility of reverse pumping from Al-Shamasiyah Governorate through Al-Qulayb to Jubail City, which ensures achieving the highest levels of continuous supply of drinking water, in line with the ministry's plans for regional connection to drinking water throughout the Kingdom. Meanwhile, Emir of Qassim directed the launch of the community farming initiative in the national parks in the region, in cooperation with agricultural companies, the private sector and residents, as part of efforts to develop the vegetation cover and enhance environmental sustainability in the region. The initiative aims to continue farming in sites through pumping renewed water, within the framework of the Green Qassim Land initiative emanating from the goals of the Green Saudi Arabia initiative. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Leaders
04-03-2025
- Business
- Leaders
Jubail-Buraidah Pipeline: SR8.5 Billion Deal to Boost Water Security
Prince Faisal bin Mishaal, Emir of Qassim Region, witnessed the signing of a SR8.5 billion contract to establish the Jubail-Buraidah water pipeline project. The ceremony took place with Minister of Environment, Water, and Agriculture Eng. Abdulrahman Al-Fadley in attendance. This landmark initiative aims to enhance water security and drive economic progress in Saudi Arabia. Project Details: A Landmark in Sustainable Development The pipeline will connect the Eastern Province and Qassim regions, delivering desalinated drinking water across 587 kilometers. Prince Faisal emphasized that the project marks a pivotal step in supporting economic, agricultural, and industrial growth in Qassim. It will ensure stable water supplies to meet rising population demands and bolster regional sustainability, directly improving quality of life. Eng. Khaled Al-Quraishi, CEO of the Saudi Water Partnership Company, announced the project was awarded to a consortium of Saudi firms via the build-own-operate-transfer (BOOT) model. The winning alliance—Aljomaih Energy and Water Company, Nesma Limited, and Buhur for Investment—was selected from 32 competing companies, including 14 Saudi entities. This approach prioritizes localization and private-sector collaboration. Commercial operations will begin in the second quarter of 2029, with a 35-year concession period to follow 8. Al-Quraishi highlighted the project's efficiency, stating it will reduce electricity consumption and enhance water transmission reliability. The pipeline's reverse-pumping capability between Al-Shamasiyah and Jubail ensures uninterrupted water supply, aligning with national water connectivity plans. Community Farming Initiative Supports Environmental Goals Meanwhile, Prince Faisal directed the launch of a community farming initiative in Qassim's national parks. Partnering with agricultural firms and residents, the project promotes vegetation growth and environmental sustainability through renewed water resources. This initiative complements the 'Green Qassim Land' program, a regional extension of Saudi Arabia's broader 'Green Saudi Arabia' vision. The Jubail-Buraidah pipeline underscores Saudi Arabia's commitment to sustainable development, water security, and economic diversification. By integrating advanced infrastructure and community engagement, the project reinforces the Kingdom's position as a leader in innovative resource management. Short link : Post Views: 3
