EDF, Masdar Secure Off-Grid Renewables & Utilities Deal For Massive Saudi Red Sea Resort

15 Sep 2023 Issue: 66 / 37 By: Jamie Ingram

Saudi Arabia is placing clean energy at the heart of its ambitious tourism-sector development plans. Having installed off-grid solar capacity at one major new tourism site, the Kingdom this week signed a deal with EDF and Masdar for a large-scale solar, storage and integrated utilities at the massive Amaala development.

Saudi Arabia has made significant strides in adding renewables to its power grid in recent years, while more under-the-radar off-grid renewable developments are also picking up pace. On 11 September, Saudi Arabia’s Red Sea Global (RSG) announced that it has entered into a 25-year concession agreement with France’s EDF and Abu Dhabi’s Masdar for the development of renewable-powered facilities at the giant Amaala tourism development.

RSG is one of the ‘giga-projects’ being developed by the kingdom’s PIF sovereign wealth fund to accelerate economic development and groups together Amaala and The Red Sea projects. These two RSG projects are planned tourism developments on the Red Sea coast. (CONTINUED - 966 WORDS)