Toyota Tsusho Forays in Saudi Arabia with Solar Power Project Worth USD 100 Million
This solar plant marks Toyota Tsusho’s inaugural renewable energy project in Saudi Arabia and will work under a build, own, operate mode.
July 15, 2023. By EI News Network
The project worth USD 100 million, will be undertaken by the joint venture company Noor Alwadi Renewable Energy Company.
Toyota Tsusho and TotalEnergies Renewables each retain a 40 percent stake in the venture, while Altaaqa Renewable Energy holds the rest 20 percent.
This solar plant underlines Toyota Tsusho’s inaugural renewable energy project in Saudi Arabia and will work under a build, own, operate mode.
The upcoming 119MW solar power plant, located in the sun abundant region of Wadi Ad Dawasir, is presently underway and picked for Japan’s Ministry of the Environment’s Financing Programme for Joint Crediting Mechanism (JCM) Model Projects in FY2022.
Commercial operations for the plant are expected to begin in March 2025.
Toyota Tsusho continually committed to its mission of boosting renewable energy and facilitating the transition to a carbon-neutral society through this project.
The execution of these model projects intends to give financial support for initiatives in developing nations that use ground-breaking decarbonization technologies to minimise greenhouse gas (GHG) emissions.
please contact: contact@energetica-india.net.
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