Toyota set to fund and operate Saudi solar plant ...United Arab Emirates

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Toyota set to fund and operate Saudi solar plant
Japanese group Toyota Tsusho Corporation has announced that its joint venture (JV) with French energy firm TotalEnergies Renewables has secured a contract from Saudi Power Procurement Company for a leading-edge, 119MW solar power plant. Also involved in the JV is a unit of the Saudi-based Zahid Group. The $100 million project is being set up by Toyota Tsusho through a joint venture company, Noor Alwadi Renewable Energy Company, in which both the Japanese group and TotalEnergies Renewables each have a 40% stake, while Altaaqa Renewable Energy has the remaining 20%. The solar plant, which is the first renewable project in Saudi Arabia for Toyota Tsusho group, will be implemented on a complete

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