Saudi Arabia Signed A New 5.5GW Solar Project!

The Saudi Power Procurement Company (SPPC) has signed a major agreement with ACWA Power, Hydro Holding Company (a subsidiary of Saudi Arabia's Public Investment Fund) and Saudi Aramco Power for power purchase agreements (PPAs) for solar projects with a total installed capacity of up to 5.5 GW.

The collaboration covers two major solar PV plants in Mecca province - Haden Solar PV Plant (2GW) and Al-Muwaih Solar PV Plant (2GW), as well as the Al-Khushaybi PV project (1.5GW) in Qassim Province. These projects are not only an important part of Saudi Arabia's national renewable energy plan, but are also closely monitored by the Ministry of Energy to ensure their smooth progress.

Speaking about the future of renewable energy development, Saudi Energy Minister Abdulaziz bin Salman Al Saud said that Saudi Arabia will start bidding for 20GW of new renewable energy projects every year in 2024. The ambitious plan aims to achieve 100GW to 130GW of installed renewable energy capacity by 2030, with specific targets to be adjusted according to growth in electricity demand. This strategic initiative will strongly promote the vigorous development of Saudi Arabia's renewable energy industry and help realize the green energy transition.