ELSEWEDY ELECTRIC & Jinko Power Allied to Assist KSA Reach Net-zero Emissions by 2050

September 2023

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ELSEWEDY ELECTRIC & Jinko Power Allied  to Assist KSA Reach Net-zero Emissions by 2050

ELSEWEDY ELECTRIC for Transmission and Distribution (EETD), a subsidiary of ELSEWEDY ELECTRIC (EE), has inked an EPC contract with Al-Ghazala Energy Company, the KSA-based subsidiary of Jinko Power Technology Co., Ltd. (SSE 601778) for the 300 MW Saad Photovoltaic (PV) Solar Independent Power Producer (IPP) Project in the Kingdom of Saudi Arabia. Through this full-wrap turnkey pact, ELSEWEDY ELECTRIC’s subsidiary shall competently manage the design, supply, and construction works and perform the operation and maintenance for the initial years.

Empowering Better Lives since 1938, EETD was meticulously chosen by the renowned IPP developer, Jinko Power, to reduce Riyadh's CO2 emissions by more than 0.5 million metric tons/year.  Located 85 km (about 52.82 mi) to the east of Riyadh City, the Saad Project is the part of Category B projects under the third round of competitive tenders of Saudi Arabia's National Renewable Energy Programme (NREP). 

Eng. Ahmed El Sewedy, President and CEO of ELSEWEDY ELECTRIC (EE) stated: “Cementing our sustainable endeavors towards the global clean energy transition, ELSEWEDY ELECTRIC Group (EE) is honored to play a pivotal role in realizing The Saudi Vision 2030. By meeting 50% of KSA's power needs with renewable energy and ultimately reaching net-zero emissions by 2050, EE has successfully entrenched its strict compliance with internal environmental, social, and governance (ESG)'s codes, and greatly contributed to the sustainable liability of its esteemed clients, partners, and society.”

Eng. Medhat Maher, CEO of ELSEWEDY ELECTRIC for Transmission and Distribution (EETD) commented: “Leveraging our world-renowned EPC and O&M capacities, EETD is privileged by playing a leading role in the implementation of KSA's Saad 300 MW PV power plant. In line with ELSEWEDY ELECTRIC’s (EE) corporate strategy of becoming one of the world's top-notch pioneers in delivering energy, services, and value, while adhering to green energy transformation, EETD's ingenious team in KSA shall build, operate, and maintain such state-of-the-art solar power generation facility, and dexterously connect it to the national power grid to generously contribute to Saudi Arabia's power supply."

Thanks to its wealthy heritage and witnessed dedication to preserving the environment, ELSEWEDY ELECTRIC (EE) has been long elected by the world's energy leaders as a distinguished partner of choice. With a solid creed that Sustainable Development Leads to a Greater Future, EE has been crowned by TUV-Nord Germany as the first Egyptian, African, and Middle Eastern company to obtain ISO 14067 for the carbon footprint. Optimizing the science-based targets and climate change mitigation strategy to reach net zero by 2050, EE takes pride in being the first Egyptian corporation to report on the environmental, social, and governance criteria (ESG), along with the Carbon Footprint, in their sustainability report.