Suez: closes financing for project in Saudi Arabia
(CercleFinance.com) - The consortium led by EDF and Masdar has announced that financing for its multiservice infrastructure for the AMAALA tourist site in Saudi Arabia has been completed.
The $1.5bn project, developed by Red Sea Global, includes a decarbonized energy system based on a 250 MW solar farm, 700 MWh of storage capacity, a 37 million liter/day desalination plant and a wastewater treatment system.
This infrastructure is expected to avoid 350,000 tonnes of CO₂ per year and offer 100% renewable services.
John Pagano, CEO of Red Sea Global, said that this project demonstrates the viability of luxury tourism powered by renewable energy.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The $1.5bn project, developed by Red Sea Global, includes a decarbonized energy system based on a 250 MW solar farm, 700 MWh of storage capacity, a 37 million liter/day desalination plant and a wastewater treatment system.
This infrastructure is expected to avoid 350,000 tonnes of CO₂ per year and offer 100% renewable services.
John Pagano, CEO of Red Sea Global, said that this project demonstrates the viability of luxury tourism powered by renewable energy.
Copyright (c) 2024 CercleFinance.com. All rights reserved.