The development is the largest tourism project of its kind in the world
The Red Sea Development Company (TRSDC) has finalised its utilities deal with a consortium led by ACWA Power for The Red Sea Project (TRSP).
The consortium has secured its financing to design, build and operate TRSP’s utilities infrastructure for 25 years, after which the operations are to be transferred back to TRSDC. This includes providing 100% renewable power, 24 hours a day, 365 days a year.
The agreement confirms the development as the largest tourism project in the world set to be powered solely by renewable energy
The consortium will also provide potable water, wastewater treatment, solid waste management, district cooling, and telecommunication and data services across the destination spanning an area the size of Belgium.
Commenting on the news, TRSDC CEO John Pagano said: “Today, our determination to show the world that tourism development can be done in a regenerative way, has reached a new stage. By choosing not to connect to the national grid and create our own supply of energy, we are guaranteeing that The Red Sea Project will be a self-sustaining, 100% renewable tourism destination.
“This also marks an important moment for Saudi Arabia’s Vision 2030, as we secure further external investment into the project, underlining the national confidence in the destination we’re creating along the Red Sea coast.”
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Initial assets will be delivered by December 2022, with the balance coming online throughout 2023, delivering a total generating capacity circa 407MWp of Solar PV power for Phase 1.
By completion, the destination will have the infrastructure in place to generate up to 760,000MWh of renewable energy per year. The power generation assets will also include the world’s largest battery storage facility of 1000MWh, allowing the destination to remain powered by renewables day and night.
This will create a saving of at least half a million tonnes of CO2 each year that would otherwise be emitted into the atmosphere. That’s equivalent to emissions from roughly 99,000 cars or 78,000 homes.
Upon completion in 2030, The Red Sea Project will comprise 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The destination will also include luxury marinas, golf courses, entertainment and leisure facilities.
For more information, visit www.theredsea.sa