ACWA Power Secures 15 GW Renewable Energy Projects in Saudi

• ACWA Power and partners launch 15,000 MW renewable projects in Saudi Arabia, investing SAR 31 billion to power the future with record-low solar and wind tariffs.

ACWA Power, in partnership with the Saudi Power Procurement Company, has signed power purchase agreements for seven new solar and wind projects in Saudi Arabia, totaling 15,000 MW. These projects are part of the Kingdom’s National Renewable Energy Programme, overseen by the Ministry of Energy, with a combined investment of SAR 31 billion (USD 8.3 billion). The projects include five solar PV schemes and two wind projects, with the 2-GW Afif 2 solar PV project achieving the lowest tariff at SAR 47.23 per MWh.

The consortium, led by ACWA Power, includes the Water and Electricity Holding Company (Badeel) and Aramco Power. The projects are distributed across various locations, with solar PV projects in Asir, Madinah, Makkah, and Riyadh, and wind projects in Riyadh. The solar projects have tariffs ranging from SAR 47.23 to SAR 51.04 per MWh, while the wind projects are priced at SAR 77.14 and SAR 69.97 per MWh.

What are the key details of ACWA Power's new renewable energy projects in Saudi Arabia?

• Total capacity of 15,000 MW from seven projects.
  
• Part of Saudi Arabia's National Renewable Energy Programme.
  
• Combined investment of SAR 31 billion (USD 8.3 billion).
• Includes five solar PV projects and two wind projects.
  
• Lowest solar PV tariff achieved at SAR 47.23 per MWh for the 2-GW Afif 2 project.
  
• Consortium includes ACWA Power, Badeel, and Aramco Power.
  
• Solar PV projects located in Asir, Madinah, Makkah, and Riyadh.
  
• Wind projects located in Riyadh.
  
• Solar PV tariffs range from SAR 47.23 to SAR 51.04 per MWh.
• Wind project tariffs set at SAR 77.14 and SAR 69.97 per MWh.