The new wind energy systems project of Al Yamamah Steel is expected to generate 15 percent of its total revenue, the company’s president Youssef Bazaid said.
The project was announced last February, with an investment of around SR300 million, and is expected to be completed by the second quarter of 2023.
It is part of the company’s renewable energy transition, following the creation of a solar energy system in 2019, Bazaid told Al-Arabiya in an interview.
The new project will have a capacity of 520 megawatts (MW) per year, which only covers 35 percent of its 1600 (MW) target in the coming years.
It will only initially serve domestic demand, Bazaid said.