Red Sea Global, a Saudi Arabian state-owned developer, has signed a 25-year concession agreement with French utility EDF and renewables producer Masdar to build a multi-utilities facility that would power the Amaala tourism project. The project will have an off-grid renewable energy system that uses solar photovoltaic technology to produce electricity. Furthermore, along with a desalination plant and a wastewater treatment facility, it will also have a 700 MWh battery storage system that will provide dependable, round-the-clock power to the project.
With the goal of eventually running Amaala fully on solar energy, the facility will be entirely powered by renewable resources. Overall, the new plant will be able to produce up to 410,000 MWh annually. The reverse osmosis-based water desalination facility will be able to process 37 million litres of water every day. Reportedly, the collaboration, which takes the form of a stand-alone public-private partnership, takes care of the engineering, operation, and maintenance of the facility’s systems as well as the networks and infrastructure they are connected to.
In May 2023, Masdar inked a joint development agreement with Uzbekistan’s Ministry of Energy and Ministry of Investments, Industry, and Trade to develop 2 GW of renewable energy and 500 MWh of solar, wind, and battery storage projects across the Central Asian country. With 7 GW of solar and 5 GW of wind capacity, Uzbekistan aimed to achieve 25 per cent of its energy needs from renewables by 2030.
REGlobal’s Views: Saudi Arabia is witnessing a massive increase in foreign investments from large global energy players with deep pockets. The country is planning large renewable energy deployments in the coming years to decarbonise its energy mix and has become a major investment hotspot in the region.