Mr. Faisal Al-Yemni Appointed Head of Saudi Arabia's Renewable Energy Project Development Office to Drive Delivery of the National Renewable Energy Program

- Mr. Al-Yemni is starting effective immediately to oversee the National Renewable Energy Program (NREP),including Round-2 projects to be tendered in 2019

-Mr. Al-Yemni has over 15 years of experience in the energy sector (Saudi Aramco,Showa Shell,Schlumberger)

RIYADH,Saudi Arabia,Sept. 17,2019 -- Saudi Arabia's Ministry of Energy has appointed Mr. Faisal Abdullah Al-Yemni as Head of Renewable Energy Project Development Office (REPDO).

Mr Faisal Al-Yemni has been appointed as the new Head of Saudi Arabia’s Renewable Energy Project Development Office (REPDO) within the Kingdom’s Ministry of Energy.

Mr. Al-Yemni will be responsible for driving the delivery of Saudi Arabia's ambitious National Renewable Energy Program,with the aim of increasing the Kingdom's renewable energy capacity to meet domestic needs while also creating a world-leading exporter and regional hub of renewable technology and manufacturing.

Mr. Al-Yemni joins REPDO at a momentous time in Saudi Arabia's renewable energy journey. In July,REPDO announced a new global record low LCOE for the 400MW Dumat Al Jandal on-shore wind project which closed at 1.99 US c/kWh. This comes after REPDO successfully awarded the 300MW Sakaka photovoltaic (PV) project which also broke global records for the lowest LCOE for solar PV at 2.34 US c/kWh during the time of bid. The two projects will contribute to the Kingdom's target of 27.3 GW of renewable energy capacity by 2024 and 58.7 GW by 2030.

Following the successful financial close of the Dumat Al Jandal project,REPDO recently launched the tendering process for six new projects with a combined energy capacity of 1.47 GW. A further six projects are on track to be tendered by the end of 2019,bringing in an additional 1.58 GW of renewable energy capacity.

Mr. Al-Yemni brings with him over 15 years in energy industry. His professional experience spans renewable energy,power systems,and much of oil and gas value chain. Faisal Al-Yemni was the CEO of the GCC Assets Investment & Development Company from which he joins REPDO. He worked previously as Head of Power Systems Support and Investment Division as well as International Operations at Saudi Aramco,and across multiple functions in the business industry at Showa Shell and Schlumberger.

Faisal Al-Yemniholds an EMBA degree from IMD Business School - Switzerland,an MSc in Sustainable Electrical Power - Brunel University London and earned his bachelor's degree in engineering from King Fahd University of Petroleum and Minerals in Saudi Arabia.

Notes to the editor:

About the National Renewable Energy Program

Saudi Arabia's National Renewable Energy Program (NREP) is a long term,multifaceted renewable energy program designed to balance the domestic power mix,whilst working towards carbon reduction commitments. The NREP is managed and executed by the Ministry of Energy,directly supporting Saudi Arabia's National Transformation Program (NTP) and Vision 2030.

The office responsible for the delivery of the NREP is The Renewable Energy Project Development Office (REPDO),an office within Ministry of Energy. The Program will be phased and rolled out in a systematic and transparent way to ensure that the Kingdom benefits from the cost competitive nature of renewable energy. The National Renewable Energy Program aims to substantially increase the share of renewable energy in the total energy mix,targeting the generation of 27.3 gigawatts (GW) of renewable energy by 2024 and 58.7 GW by 2030.

For more information on the National Renewable Energy Program,please visit: www.powersaudiarabia.com.sa.

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