National Agricultural Development Co. (NADEC) announced today, Nov. 3, that it is still in the construction phase for the 30 megawatts (MW) solar energy project in Haradh.
The company expects that the project will be commissioned and the commercial operation will begin on March 31, 2021.
NADEC said in a bourse statement that 50% of the construction work on the project is completed, adding that the delay in project execution work was due to COVID-19, leading to a force majeure situation and impact of global supply chains, resulting in postponement of supply and implementation activities.
The financial impact will be announced upon completion of construction work and commencement of commercial operation of the project.
According to data compiled by Argaam, NADEC announced in July 2019 the signing of a solar power purchase agreement (PPA) with France-based World Energy Actor (ENGIE) for a period of 25 years to set up a 30 MW solar power project in NADEC City, Haradh, through integration with the company’s current energy resources.
The company previously expected the project to begin commercial operation on Oct. 31, 2020.
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