ACWA Power closes financing for 320 MW Red Sea solar with 1.3 GWh energy storage project
A group of developers led by ACWA Power has obtained a US$1.3 billion funding for the Red Sea project, which would include a 320 MW solar array and a 1.3 GWh off-grid battery on Saudi Arabia's west coast. A consortium of Saudi and international banks will provide the senior debt, which will be denominated in dollars and riyals.
Last year, Chinese electronics firm Huawei Digital Power was given the largest contract of its kind for an off-grid battery energy storage system.
The system is sized to fit the project's initial scope and can be scaled up to fit the complex around it. The solar-plus-storage complex will allow the Red Sea Project to remain off-grid and powered by renewables, with phase one set to begin late this year and be completed next year.
Country updates
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March 10, 2022
Jinko Power signs PPA for 300 MW Solar PV project in Saudi Arabia
Jinko Power Technology Co. Ltd. has signed a 25-year power purchase agreement with Saudi Power Procurement Company (SPPC) for the 300 MWp Saad solar photovoltaic project.
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February 14, 2022
Jinko Power wins tender for 300 MW solar project in Riyadh
The consortium of companies led by Jinko Power Technology Co. has secured the winning bid to develop a 300 MW solar photovoltaic project in Saudi Arabia. The Saad Solar Photovoltaic (PV) I...
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January 24, 2022
PV Hardware to supply solar trackers for 387 MWp South Jeddah Noor PV project
Spanish solar tracker solutions provider PV Hardware (PVH) has been commissioned by a consortium of Masdar, EDF Renewables, and Nesma Company, to provide solar trackers for the 387 MWp solar phot...
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January 04, 2022
Qassim Cement seeks consultant for its 30 MW solar project in Buraydah
Qassim Cement Company, a cement and clinker producer in Saudi Arabia, is seeking a consultant for the development of its planned 30 MW solar photovoltaic facility located in the northcentral city of B...
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November 26, 2021
Saudi Arabia shortlists bidders 1.2 GW solar tender
The Saudi Arabian Ministry of Energy has released a list of bidders shortlisted for the country’s National Renewable Energy Program (NREP) round 3 auction. Winners, once announced, will enter in...
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