SPPC signs PPAs for three new solar projects (5.5 GW) in Saudi Arabia

Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for three new photovoltaic projects with a combined capacity of 5.5 GW under Saudi Arabia’s national renewable energy program. The estimated SAR 12.3 billion ($3 billion) agreement with Saudi renewable energy company ACWA Power Company, Water & Electricity Holding Company (Badeel, wholly owned by Saudi Arabia’s Public Investment Fund) and Aramco Power for the following power plants: the 2 GW Haden, 2 GW Al Muwayh (both located in the Makkah region) and 1.5 GW Al Khushaybi located in the Qassim region.

In addition, the Saudi Ministry of Energy announced the launch of annual tenders for new renewable energy projects with a total capacity of 20 GW, with a target of reaching 100 to 130 GW of renewable energy capacity by 2030. At the end of 2023, installed photovoltaic capacity (2.3 GW) represented 2.5% of the country’s total capacity.