Cranmore team members Nick Sinden (Executive Director) and Meishi Tan (Senior Associate) released an article in Project Finance International Magazine in relation to the successful financial closing of Dumat Al Jandal wind IPP, the first wind farm of Saudi Arabia. Cranmore was financial advisor to the Masdar-EDF sponsor consortium. Dumat al Jandal’s winning bid at levelised electricity cost (LEC) of US$21.3/MWh represents one of the lowest tariffs globally for any wind IPP to date, and moreover punches in at below the world-record US$23.6/MWh solar tariff for its sister project, the 300MW Sakaka PV IPP. In the article, we discuss perspectives on the technology, tariff structure, risk allocation, and financing.
Read the article below on the PFI website: