ACWA Power to develop 2060MW solar project
- JV with Water and also Electricity Holding Company (Badeel) is to be constructed in Saudi Arabia
Saudi renewables developer ACWA Power is to build a 2060MW solar plant in the country.
In partnership with Water as well as Electricity Holding Company (Badeel), the project is expected to be the biggest facility of its kind in the Middle East to day.
The project is anticipated to achieve commercial operation by Q4 2025.
The project will be collectively owned by Badeel as well as ACWA Power with each company holding a 50% equity stake through the establishment of the JV Shuaibah Two Electrical Energy Company.
The the Saudi Power Procurement Company (SPPC) will offtake the energy created at the solar site.
ACWA Power chairman Mohammad Abunayyan claimed: "Under the guidance of our visionary management and also the Ministry of Energy, Saudi Arabia remains to accelerate its ambitious prepare for expanding its energy mix to include renewable energy.
" It is a fantastic honour to partner with Badeel as well as SPPC in developing this milestone project which will certainly set a benchmark for sustainable energy advancement in the region.
" Solar power is a key component in unlocking positive financial, ecological and also social end results for the betterment of communities throughout our terrific country.
" We remain committed to developing local capabilities in technology, supply chain, as well as skill and also guarantee they are realised to their fullest potential."
Shuaibah 2 is ACWA Power's 6th solar energy facility in Saudi Arabia.