Saudi Arabia – ACWA Power, a developer, investor and operator of power generation and desalinated water plants, has announced the financial close for the 1500 MW Sudair Solar plant.
The launch of the Sudair Solar project was announced at the inauguration of Sakaka PV project in April 2021. A specialized Saudi technical team at the Ministry of Energy selected the Sudair project site and carried out the engineering requirements and preliminary studies of the project.
ACWA Power also announced that SAPCO, a fully owned company of Aramco, have joined the consortium with ACWA Power and Badeel, a company fully owned by PIF. The consortium, led by ACWA Power, embodies the strategic importance of the Sudair Solar PV project, the first project under PIF’s renewable energy program. The program aims to support Saudi Arabia’s ongoing energy transition and diversification, and to deliver 70% of the country’s renewable energy under the National Renewable Energy Program (NREP).
Largest PV plant
With an investment value of SAR 3.4 billion, Sudair Solar PV project, which is located at Sudair Industrial City, is set to become one of the largest single-contracted Solar PV plants in the world. And the largest of its kind in Saudi Arabia. A 25-year power purchase agreement for the plant was signed with the Saudi Power Procurement Company, with the tariff being among the lowest for solar PV projects globally. Using bi-facial modules with tracking technology, the plant is set to deliver highly efficient performance and be capable of powering 185,000 homes, while offsetting nearly 2.9 million tons of emissions per year.