Financial close has been reached on the Middle East’s largest wind farm, the 400MW Dumat Al Jandal project, which is selling its power for a record regional low of $21.30/MWh.

Developers EDF Renewables and Masdar were awarded the contract for Saudi Arabia’s first utility-scale wind farm in January, with the energy to be bought by the Saudi Power Procurement Company (SPPC), a subsidiary of power generation and distribution company SEC, under a 20-year power-purchase agreement.