Saudi Arabia signed Power Purchase Agreement for 2,970MW Solar PV Projects

Saudi Arabia announces the Signing of Power Purchase Agreement (PPA) for seven Solar PV Projects of total capacity 2,970MW. The projects are located in Al Madinah, Sudair, Qurayyat, Shuaibah, Jeddah, Rabigh, and Rafha.

Al-Faisaliah (Shuaibah) PV IPP (600MW)

The PPA was signed with the consortium of ACWA Power, Al-Babtain Holding Investment Company, Gulf Investment Corporation. The project has recorded the world’s lowest cost for Solar PV electricity production of USD 1.04 cents/ kWh.

Sudair PV IPP (1500MW)

The PPA was signed with the consortium led by ACWA Power. The Project is Co-Owned by PIF and ACWA Power. The project has recorded the second lowest cost globally for Solar PV electricity production of USD 1.239 cents/kwh. (read more)

Jeddah PV IPP (300MW)

The PPA was signed with the consortium of MASDAR, EDF Renouvelables S.A., Nesma. Earlier, during April 2020, the Consortium submitted the price of 6.09042 Halala/kWh.

Rabigh PV IPP (300MW)

The PPA was signed with the consortium of Marubeni, Al Jomaih E&W. Earlier, during April 2020, the Consortium submitted the price of 6.381138 Halala/kWh. (read more)

Qurayyat PV IPP (200MW)

The PPA was signed with the consortium of ACWA Power, Al-Babtain Holding Investment Company, Gulf Investment Corporation. Earlier, during April 2020, the Consortium submitted the price of 6.688 Halala/kWh

Madinah Solar PV IPP (50MW)

The PPA was signed with the consortium of Al Blagha Holding for Investments Company, Al Fanar Company, Desert Technologies Industries CJSC. Earlier, during April 2020, the Consortium submitted the price of 7.27533 Halala/kWh

Rafha Solar PV IPP (20MW)

The PPA was signed with the consortium of Al Blagha Holding for Investments Company, Al Fanar Company, Desert Technologies Industries CJSC. Earlier, during April 2020, the Consortium submitted the price of 13.0772 Halala/kWh

The Projects will power more than 600,000 households and reduce greenhouse gas emissions by more than 7 million tons.

The new projects are characterized as independent power producers (IPP). The power produced by these projects will be bought within the framework of 20- to 25-year-long PPA’s with the Saudi Power Procurement Company.

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