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ACWA Power has secured power purchase agreements (PPAs) valued at 12.3 billion Saudi riyals ($3.3 billion) to develop, implement, and operate three significant solar photovoltaic (PV) projects. These projects, located in Haden, Muwayh, and Al Khushaybi, will each have a capacity of 2,000 MW, 2,000 MW, and 1,500 MW respectively. ACWA Power announced this in a statement on the Saudi stock exchange.
- The PPAs were signed with the Saudi Power Procurement Company (SPPC) and the project companies Buraiq Renewable Energy, Moya Renewable Energy, and Nabah Renewable Energy. These companies will be jointly owned by ACWA Power, Water and Electricity Holding Co. (Badeel), a subsidiary of the Public Investment Fund, and Saudi Aramco Power Company.
السبب في أهمية الخبر
ACWA Power's agreements highlight Saudi Arabia's commitment to expanding its renewable energy capacity, supporting economic diversification, and reducing its carbon footprint.
