Marubeni and Ajlan & Bros to Develop Major Wind Power Projects in Saudi Arabia

Marubeni Corporation has finalized a Power Purchase Agreement (PPA) with Saudi Power Procurement Company (SPPC) for the development of the Al-Ghat and Waad Al-Shamal Wind IPP Projects in Saudi Arabia.

In partnership with Abdulaziz Alajlan Sons for Commercial & Real Estate Investment Company – Ajlan & Bros, Marubeni will establish two significant onshore wind power facilities: a 600MW project in Al-Ghat, Riyadh Province, and a 500MW project in Turaif, Northern Borders Province.

Under the agreement, SPPC will purchase the generated power for 25 years from the commencement of commercial operations. These wind projects mark the first involvement of a Japanese company in Saudi Arabia’s wind energy sector. Marubeni views Saudi Arabia, with its rapid growth, as a crucial market within the Middle East and Northern Africa (MENA) region.

The company has already engaged in several energy projects in the country, including the Rabigh Solar PV IPP Project (300MW), a rooftop solar PV project, and ventures in district cooling and clean hydrogen.

Marubeni’s commitment to renewable energy and decarbonization aligns with its long-term climate change vision formulated in March 2021. The company’s mid-term management strategy, GC2024, also emphasizes a green strategy to enhance corporate value.

Through these wind projects, Marubeni aims to secure a stable power supply from renewable sources and contribute to decarbonization efforts. The projects will further extend Marubeni’s presence in Saudi Arabia and support its active involvement in global green business initiatives.