Tabuk Agricultural Development Co.’s (TADCO) board of directors has approved a partnership with a national company to establish a renewable energy limited liability company (LLC) by the first quarter of 2017, TADCO said in a statement to Tadawul on Sunday.
TADCO will own a 50 percent stake of the SAR 500,000 renewable energy firm, through direct investment without any related parties, the statement said.
The new company will supply solar energy to TADCO at competitive prices and will be an investment arm in bidding for renewable energy tenders.
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