Saudi Arabia Signs PPA for 5.5 GW of Solar Power Projects

Researched by Industrial Info Resources (Sugar Land, Texas)--The Saudi Power Procurement Company (SPPC) (Riyadh, Saudi Arabia) has signed power purchase agreements (PPA) for three new photovoltaic solar projects totaling 5.5 gigawatts (GW), which include two 2,000-megawatt (MW) projects to be developed at Haden and Muwayh in the Makkah region and the 1,500-MW Al Khushaybi plant in the Qassim region.

A consortium led by ACWA Power (Riyadh) along with Water & Electricity Holding Company (Badeel), a wholly-owned subsidiary of the Public Investment Fund (PIF) (Riyadh), and the Saudi Aramco Power Company (SAPCO) signed the 25-year power offtake deal with SPPC. These projects are a part of Saudi Arabia's National Renewable Energy Program.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for detailed reports on the three projects.

Additionally, ACWA Power, in collaboration with consortium partners Badeel and SAPCO, is developing several other photovoltaic solar projects across Saudi Arabia with capacities aggregating to 14 GW.

These initiatives are part of the broader efforts to achieve the goals of Vision 2030, which aims to optimize the energy mix and reduce reliance on liquid fuels in the Kingdom's power sector. The program utilizes vast lands to harness renewable energy sources and aims to increase the share of renewables in the energy mix to around 50% by 2030 and reach net-zero carbon emissions by 2060.

Industrial Info is tracking more than 50 renewable energy projects across Saudi Arabia, worth about US$32 billion. Subscribers can click here for a full list of projects.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).