Energy China and PowerChina secured US$4.3 billion EPC contracts for gigawatt-scale wind & solar projects in Saudi Arabia

Energy China and PowerChina have secured US$4.3 billion of engineering, procurement, and construction (EPC) contracts for gigawatt-scale wind and solar projects in Saudi Arabia.

The deal covers multiple large-scale wind and solar power plants. Energy China, in partnership with ACWA Power, the Public Investment Fund (PIF), and Aramco Power, secured three contracts worth a combined CNY 19.554 billion (US$2.745 billion). The projects include 3 GW of wind capacity and one 2 GW solar installation. PowerChina won contracts for the Afif 1 and Afif 2 solar projects in Riyadh, each with 2 GW of installed capacity. The agreements were signed with Afif Renewable Energy Company, a consortium led by ACWA Power. Both projects include 132 kV substations, 132 kV transmission lines, and associated grid connection infrastructure. The combined contract value is CNY 11.719 billion (US$1.645 billion). Once completed, all five facilities will sell electricity to Saudi Power Procurement Co. (SPPC) under long-term power purchase agreements, supporting the country’s energy supply stability.