FX Excursions

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The Red Sea Development Company Finalizes Contract for 100 Percent Renewable Utilities

by Kimberly Krol Inlander

Nov 24, 2021

© Maksym Kapliuk | Dreamstime.com

Daily

The Red Sea Development Company recently finalized its utilities deal with a consortium led by ACWA Power for The Red Sea Project, setting the development as the largest tourism project in the world set to be powered solely by renewable energy.

 

The consortium secured financing to design, build and operate TRSP’s utilities infrastructure for 25 years, including providing 100 percent renewable power 24/7; potable water; wastewater treatment; solid waste management; district cooling; telecommunication; and data services.

 

TRSDC will be the sole recipient of services for the next 25 years, with initial assets to be delivered by December 2022. The balance of services will come online throughout 2023. Upon completion, the destination will have the infrastructure in place to generate 760,000 MWh of renewable energy yearly for a savings of at least half a million tons of CO2 each year, which is equivalent to emissions from 99,000 cars or 78,000 homes.

 

“Today, our determination to show the world that tourism development can be done in a regenerative way reaches 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 percent renewable tourism destination,” said John Pagano, CEO, TRSDC. “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.”

 

When TRSP is completed in 2030, it will include 50 resorts, luxury marinas, golf courses, entertainment and leisure facilities across 22 islands and six inland sites.

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