SAFEER AND KAEC TO LAY GROUNDWORK FOR HYBRID SOLAR FARM PROJECT

A formal letter of intent was signed by King Abdullah Economic City (KAEC) and SAFEER, a partnership between TotalEnergies and Altaaqa Alternative Solutions, to supply KAEC with a sizable hybrid solar power farm project. The strategic agreement lays up the groundwork for the construction of an estimated 25,000 solar panels (ground-mounted motorized system) with a 12.5 megawatt peak (MWp) capacity for the city.

The hybrid solar power farm is anticipated to lower KAEC’s carbon footprint by over 20,380 metric tons annually and reduce diesel consumption by almost 30%. The initiative will also address KAEC’s goals for waste disposal, recycling, and the building of certified factories with no landfills. This partnership with SAFEER is also in line with KAEC’s objectives for social and environmental sustainability and enables the city to investigate innovative and effective development options that will benefit the entire neighborhood.

Cyril Piaia, CEO of KAEC, commented on the collaboration by saying: “We are thrilled to announce KAEC’s first sustainability project in line with the Kingdom’s Green Initiative, Vision 2030, and the general Sustainable Development Goals (UNSDG) for the globe.

By joining SAFEER, KAEC will be able to stop using diesel generators and start producing green energy for the city and well-known electric vehicle producers like LUCID. A pleasant value-add to the project is that this hybrid solar farm will also drastically lower KAEC’s carbon footprint and our cost of producing electricity by 17%.

“As enterprises continue to work together for the benefit of prosperity inside the Kingdom of Saudi Arabia, we at SAFEER continue to prioritize activities that produce a net-positive environmental impact,” said Francois Ganneau, Managing Director of SAFEER. The conclusion of this strategic agreement with KAEC to build a cutting-edge hybrid solar power farm presents SAFEER with a wonderful chance to put our skills and resources to work creating sustainable projects for the Kingdom. We appreciate KAEC’s confidence in us and ongoing assistance, and we look forward to this historic facility’s successful completion.

SAFEER was created as a joint venture between TotalEnergies and Altaaqa Alternative Solutions (a division of Zahid Group), with the goal of becoming a market leader in the Kingdom’s commercial and industrial solar energy sector.

To put the effects of KAEC’s 12.5 MWp hybrid solar power farm in perspective, the project will annually produce around 29.GWh of clean energy, which is comparable to the carbon sequestered by more than 335,000 tree seeds grown for 10 years, or to approximately 80 million kilometres driven by an average vehicle passenger. Over the course of the PV panels’ lifetime, KAEC aims to recycle 85% of the solar system.

KAEC also hopes that by delivering this affordable and dependable solar energy solution, it will demonstrate how the Kingdom of Saudi Arabia is beginning to employ solar technology. Along with adhering to ESG principles, which are receiving more and more attention in the Kingdom, this solar farm project is also an integral aspect of KAEC’s planned sustainability strategy, which will be announced shortly. Foreign Direct Investments (FDI) into the Kingdom will increasingly be driven by environmental, social, and governance (ESG) considerations, and KAEC plans to take a leading role in these activities.

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