The Saudi power group ACWA Power, together with the Water and Electricity Holding Company (Badeel) and Saudi Aramco Power Company (SAPCO), has announced the financial close of five solar projects and two wind projects in Saudi Arabia (ACWA Power press release, 27/11/2025).
- The seven projects amount to 15 GW of new capacity and represent a total investment of SAR31bn (US$8.2bn).
- These projects are scheduled to enter operation between the second half of 2027 and the first half of 2028.
“As part of the Kingdom’s National Renewable Energy Program (NREP), the seven new renewable energy plants include Bisha (3 GW solar PV, located in Asir Province), Humaij (3 GW solar PV, located in Madinah Province), Khulis (2 GW solar PV, located in Makkah Province), Afif 1 (2 GW solar PV, located in Riyadh Province), Afif 2 (2 GW solar PV, located in Riyadh Province), Starah (2 GW wind, located in Riyadh Province), and Shaqra (1 GW wind, located in Riyadh Province); and will be jointly owned by ACWA Power, Badeel, and SAPCO, with the Saudi Power Procurement Company as the procurer and off-taker for the projects”.
Power purchase agreements between the ACWA-led consortium and the Saudi Power Procurement Company (SPPC) were signed in July 2025.
Saudi Arabia's National Renewable Energy Program aims to deploy 40 GW of solar and 16 GW of wind capacity by 2030.
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