ACWA Power starts operation of 300 MW Solar project in Saudi Arabia
ACWA Power, a leading Saudi developer, investor and operator of power generation and water desalination plants, announces the official inauguration of the 300 MW Sakaka PV IPP, KSA’s first utility scale renewable energy project, at an investment value of SAR1.2 billion (USD319.71 million).
The inauguration of Sakaka PV IPP marks a pivotal moment in the continued energy diversification and development plans of Saudi Arabia. The project was awarded to an ACWA Power led consortium at a world record tariff, at the time, of 8.781 halalas/kWh in 2018, which has paved the way for subsequent projects of the National Renewable Energy Program (NREP) to lower the cost of clean solar electricity in the Kingdom.
Mohammad Abunayyan, ACWA Power Chairman, said: "The Sakaka project will encourage local Saudi companies to participate in the implementation of renewable energy projects and support Saudi talent in cultivating the skills and competencies needed in this thriving sector, which constitutes one of the Kingdom’s key pillars for sustainable socio-economic development".
Al Gihaz Holding, a major Saudi contractor and investor, owns a 30% stake in the Sakaka Solar Energy Company (SSEC), alongside ACWA Power's 70% stake, and was instrumental in both the investment, engineering, procurement and construction of the project.
Country news
-
-
April 19, 2021
L&T Construction signs EPC contract for 1.5 GW Solar project in Saudi Arabia
Larsen & Toubro’s Power Transmission & Distribution Business has secured a turnkey EPC Contract for 1.5 GW Sudair solar PV project in Saudi Arabia.
Read more -
April 14, 2021
Marubeni signs PPA for 300 MW Solar project in Saudi Arabia
Marubeni Corporation (“Marubeni”) signed a Power Purchase Agreement with the Saudi Power Procurement Company (SPPC) through a Special Purpose Company established with Al Jomaih Energy & Water Company Limited.
Read more -
September 21, 2020
Preferred bidder selected for Red Sea PPP megaproject in Saudi Arabia
The Red Sea Development Company (TRSDC) has selected the Acwa Power/China Energy consortium as the preferred bidder for the first phase if the Red Sea Development project.
Read more -
July 25, 2019
Financial Close for the first wind park in Saudi Arabia
Financial close has been reached for Saudi Arabia’s 400 MW Dumat Al Jandal wind park in the Al Jouf region of Saudi Arabia that is being developed by a consortium of French renewable energy firm EDF Renewables and Abu Dhabi Future Energy Company (Masdar) at a cost of US$500 million.
Read more -
January 14, 2019
EDF-Masdar consortium wins tender for 400 MW wind project in Saudi Arabia
The consortium consisting of EDF Renewables and Masdar (Abu Dhabi Future Energy Company PJSC) has announced that it has won the tender for the Dumat Al Jandal wind farm. With an installed capacity of 400 MW, it will be Saudi Arabia’s first wind farm and the largest in the Middle East.
Read more
