Logo of Riyadh Cement Co.
Riyadh Cement Co. announced today, Sept. 14, the award and signing of a 25-year agreement with SAMANA Energy Co. to purchase solar power. 
In a Tadawul statement, the company said the contract’s average annual payments will amount to approximately SAR 6 million, excluding VAT, throughout the contract term, bringing the total contract value to approximately SAR 150 million over 25 years.
The agreement will enable Riyadh Cement to purchase power from Samana Energy at a cost lower than the company’s current electricity generation cost and Saudi Energy Co.’s cost, without requiring Riyadh Cement to finance the project.
The company will incur no capital or operating expenses, subject to obtaining the necessary licenses and approvals from the relevant authorities.
The power generation system is expected to commence operations in Q4 2027, with cost savings expected from the first year of operations, while the actual financial impact will depend on energy prices at the time.
Logo of Riyadh Cement Co.
Riyadh Cement Co. announced today, Sept. 14, the award and signing of a 25-year agreement with SAMANA Energy Co. to purchase solar power.
In a Tadawul statement, the company said the contract’s average annual payments will amount to approximately SAR 6 million, excluding VAT, throughout the contract term, bringing the total contract value to approximately SAR 150 million over 25 years.
The agreement will enable Riyadh Cement to purchase power from Samana Energy at a cost lower than the company’s current electricity generation cost and Saudi Energy Co.’s cost, without requiring Riyadh Cement to finance the project.
The company will incur no capital or operating expenses, subject to obtaining the necessary licenses and approvals from the relevant authorities.
The power generation system is expected to commence operations in Q4 2027, with cost savings expected from the first year of operations, while the actual financial impact will depend on energy prices at the time.
