Korea Electric Power Corp. secured a contract for a wind power facility in Saudi Arabia that the kingdom claims achieved the world’s lowest electricity generation cost, according to the Saudi state news agency SPA.
The utility joined with Saudi-based Nesma Renewable Energy and the United Arab Emirates’ Etihad Water and Electricity in winning the Dawadmi wind project near Riyadh, with a capacity of 1,500 megawatts. The consortium’s bid of 1.34 cents per kilowatt-hour for the levelized cost of electricity represents what Saudi officials characterized as a global benchmark for wind power, though independent verification wasn’t immediately available.
Saudi Power Procurement Co. awarded the project as part of a broader tender worth 9 billion riyals ($2.4 billion, 3.4 trillion won) that included five wind and solar developments totaling 4,500 megawatts. Competitors including Masdar, Electricité de France, and TotalEnergies won the remaining contracts, SPA reported.
The awards advance Saudi Arabia’s ambitions under its Vision 2030 program to generate 58.7 gigawatts from renewable sources by decade’s end. The kingdom has now committed to 43.2 gigawatts of renewable capacity, with 12.3 gigawatts operational.
For KEPCO, the project marks another push into Middle Eastern energy infrastructure following its involvement in a Saudi Arabian Oil Co. cogeneration plant at the Jafurah gas field.
