TADCO pens agreement with SEC subsidiary under LFDP
Tabuk Agricultural Development Co. (TADCO) signed an agreement with National Grid SA, a subsidiary of Saudi Electricity Co. (SEC), to establish an electrical transmission station, according to a filing to Tadawul.
The project aims to power the company's farm in Tabuk, with a load capacity of 64 MVA, as part of Saudi Arabia's Liquid Fuel Displacement Program (LFDP), in accordance with the signed agreement that is valid until Dec. 31, 2026, or until project completion.
The deal is an extension of the ongoing work under the Kingdom's energy system and the environment, water and agriculture system to achieve the LFDP targets.
The project will contribute to reducing emissions resulting from the use of liquid fuels in electricity production within the company's facilities.
In addition, it will boost the reliability of the network's operational processes, while supporting the shift to using electrical networks, entailing no material financial impact on the company.
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