The United Arab Emirates’ Etihad Water and Electricity (EtihadWE) has joined a consortium with Korea Electric Power Corporation (KEPCO) and Saudi Arabia’s Nesma Renewable Energy to develop the 1,500-megawatt Dawadmi Wind Power Project in the Kingdom.
The project, awarded in the presence of Saudi Energy Minister Prince Abdulaziz bin Salman and the ambassadors of the UAE and South Korea, achieved a record-low generation cost of 5.01760 halalas per kilowatt-hour, equivalent to 1.33803 US cents — the lowest tariff ever recorded globally for wind power.
The Dawadmi project is part of Saudi Arabia’s broader drive to expand renewable energy under the National Renewable Energy Program, aimed at diversifying its power mix and cutting carbon emissions in line with Vision 2030.
UAE Energy Minister Suhail Mohamed Al Mazrouei, who also chairs EtihadWE, said the project underscores “the depth of the UAE–Saudi partnership and their integration in the clean energy sector,” describing the venture as evidence of “the capability of UAE institutions to advance energy security and sustainability regionally and globally.”
EtihadWE CEO Yousif Ahmed Al Ali said the project’s record-low cost highlights “the strength of development and financing models in the region,” adding that the company’s participation aligns with its strategy for “responsible investment in renewable energy assets.”
The Dawadmi wind project is expected to make a substantial contribution to Saudi Arabia’s renewable energy capacity, helping reduce power generation costs and strengthen system reliability over the long term.
