ACWA Power announces that the project company for the Al Shuaibah 1 solar photovoltaic (PV) power plant received a commercial operation certificate from Saudi Power Procurement Co. (Principal Buyer) for the full project capacity of 600 MW.
During August 2023, ACWA Power, along with the Water and Electricity Holding Company (Badeel), wholly owned by Public Investment Fund (PIF), and Saudi Aramco Power Company (SAPCO), a wholly owned subsidiary of Aramco, announces the successful financial close of Al Shuaibah 1 and Al Shuaibah 2 solar PV projects which will generate an aggregate capacity over 2.6GW of clean electricity for Saudi Arabia. (read more)
Saudi Power Procurement Company (SPPC) is the procurer and the off-taker for the projects, while the projects will be jointly owned by Badeel (34.99%), ACWA Power (35.01%), and SAPCO (30%).
