The Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for three new solar photovoltaic projects with a combined capacity of 5.5 GW, as part of Saudi Arabia’s National Renewable Energy Program. The estimated SAR12.3bn (US$3bn) deals with Saudi renewable energy utility ACWA Power Company, the Water & Electricity Holding Company (Badeel, fully-owned by Saudi Arabia's Public Investment Fund) and Aramco Power for the following plants: 2 GW Haden, the 2 GW Al Muwayh (both located in the Makkah region), and 1.5 GW Al Khushaybi located in the Qassim region.
Additionally, the Saudi Ministry of Energy has announced the launch of annual tenders for new renewable energy projects with total capacity of 20 GW, to eventually reach between 100 and 130 GW of renewable energy capacity by 2030. At the end of 2023, installed solar capacity (2.3 GW) represented 2.5% of the country’s total capacity.
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