- Saudi Arabia has signed power purchase agreements with seven new solar projects that will provide over 3,600MW.
- The projects will have a total capacity of 300MW.
- The Kingdom plans to produce half of its electricity with gas and the other half with renewables by 2030.
Saudi Arabia has signed power purchase agreements with seven new solar projects that will provide over 3,600MW. The power plants will provide electricity for over 600,000 households according to the state news agency SPA.
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The project will be developed in addition to the new Sakaka solar and the Dumat al-Jandal wind projects. The projects will have a total capacity of 300MW and will be developed by Acwa Power, a company co-owned by Saudi Arabia’s sovereign wealth fund.
The Kingdom plans to produce half of its electricity with gas and the other half with renewables by 2030. The new projects will serve as independent power producers with the the energy produced being sold to the Saudi Power Procurement Company under 20-25 year PPAs.
The Crown Prince noted that the plants represent one of the lowest cost of solar energy.