The European Commission announced on Friday that it has approved the establishment of a joint venture between Abu Dhabi-based Masdar, French utility group EDF, and Saudi Arabia's diversified group Nesma to operate a solar project in Saudi Arabia.
The joint venture will not only oversee the solar project but will also engage in electric power generation, transmission, distribution, and sales.
The Commission concluded that the planned collaboration would not adversely affect competition, citing its limited impact on the European Economic Area (EEA). The transaction was reviewed under the simplified merger control procedure.
In November 2023, the consortium comprising Masdar, EDF Renewables, and Nesma Renewable Energy was selected to build the 1,100-MW Al Henakiyah solar plant in Saudi Arabia after submitting the lowest bid in a competitive tender.
