PPA signed for 2.06 GW Solar PV project in Saudi Arabia
ACWA Power and the Water and Electricity Holding Company (Badeel), a wholly owned company by the Public Investment Fund (PIF), have signed power purchase agreements with the Saudi Power Procurement Company (SPPC) for the 2.06 GW Al Shuaibah 2 solar project in Mecca, Saudi Arabia.
The solar project will be installed, constructed owned and operated by Shuaibah Two Electrical Energy Company, a special purpose vehicle jointly owned by Badeel (50%) and ACWA Power (50%). When completed, it will provide electricity to 350,000 households.
The project partners estimate the solar power facility to be operational by Q4 of 2025.
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