ACWA POWER Company announces the signing of 3 power purchase agreements for 3 large-scale PV Solar Plants, namely Haden, Muwayh, and Al Khushaybi located in the western and northern regions of Saudi Arabia with a production capacity of 2,000MW, 2,000MW and 1,500MW of renewable power, respectively.
The PPAs have been signed between the Saudi Power Procurement Company (SPPC) and the individual project companies Buraiq Renewable Energy Company, Moya Renewable Energy Company and Nabah Renewable Energy Company, respectively, all of which will be owned by ACWA Power, Badeel (a wholly owned subsidiary of PIF), and Saudi Aramco Power Company.
The value of the contract is SAR 12.3 billion (US$ 3.3 billion) in aggregate.
Project Scope of Work includes Development, financing, construction, ownership and operation of 3 Solar PV Power Projects.
The duration of the contract is 25 years for each PPA.
The Commercial Operation Dates (PCOD) expected by the first half of 2027.
Related: Saudi Arabia signs Agreements for 5,500 MW Solar PV Projects
