Saudi Arabia: Riyadh Cement said that it had signed an agreement with Samana Energy to purchase solar energy for a 25-year period. Under the agreement, Riyadh Cement expects to make average annual payments of about US$1.6m, over the contract period. The electricity would be purchased at a lower cost than its current electricity generation costs and below the cost of electricity supplied by Saudi Energy, said the company. Riyadh Cement would not be required to fund the project, subject to obtaining the necessary licences and approvals from the relevant authorities. Operations are expected to begin in the fourth quarter of 2027.
Riyadh Cement signs 25-year solar power deal with Samana Energy
