CG wins 400 MW wind farm contract in Saudi
CG Holdings Belgium NV Systems Division, a wholly-owned subsidiary of CG Power and Industrial Solutions Ltd., bagged a contract for 400 MW wind farm in Saudi Arabia.
The contract is valued at around Euro 12.5 million and involves high-voltage substations that will connect the Dumat Al Jandal wind farm to the Saudi Arabian electricity transmission grid.
Dumat Al Jandal has an installed capacity of 400 MW, thereby rendering it Saudi Arabia’s first large scale onshore wind farm and also the largest so far in the Middle East. A consortium of EDF Renewables and Masdar has undertaken the responsibility of developing the wind farm. They will supply power to the Saudi Power Procurement Company, a subsidiary of the Saudi Electricity Company.
The wind farm in question is situated 560 miles from the north of Riyadh, in the Al Jouf region of North-western Saudi Arabia.
CG Power and Industrial Solutions Ltd. is an Avantha Group Company. It is a prominent global player in the management and application of electrical energy. It provides end-to-end solutions that fulfil all electrical needs of its customers. Its portfolio of products includes electrical products, systems and services for utilities, power generation and industries.
On Friday, the shares of CG Power and Industrial Solutions Ltd. opened at Rs. 22.40, and hit a high and low of Rs. 22.90 and Rs. 21.60, respectively. The stock closed at Rs. 22.05, up 2.56 per cent.