Acwa Power kicks off ops at 1500MW Saudi solar plant
RIYADH, January 4, 2024
Saudi-based Acwa Power has announced that it has received from the Saudi Power Procurement Company (SPPC) the commercial operation certificate for Group 3 of Sudair Solar Photovoltaic Project in Saudi Arabia.
The Group 3 included additional 25% of the total project capacity. With this additional boost, the plant has now attained its full 1500MW capacity, said Acwa Power in its filing to Saudi bourse Tadawul.
A leading regional developer of power and desalination projects, Acwa Power owns a net stake of 35% in Sudair One Renewable Energy Company, the project developer.
Water and Electricity Holding Company (Badeel) too has a 35% stake in the project, with the remaining 30% owned by the Saudi Aramco Power Company (Sapco).
Acwa Power and Badeel have jointly invested about SAR3.4 billion ($907 million) in the development of the Sudair solar project.
The company expects financial impact to be reflected in Q1 2024.
The PIF-backed consortium, led by Acwa Power, signed a power purchase agreement with the SPPC for 25 years. Sudair PV IPP will be capable of powering 185,000 homes and offsetting nearly 2.9 million tonnes of emissions per year.
This comes close on the heels of its launch of commercial operations at Group 1 and 2 of Sudair Solar Photovoltaic Project in September and October last year respectively.
This is Acwa Power's second successful commercial launch of operations within the region.
In November last year, Acwa Power had received the plant commercial operation certificate from Dubai Electricity & Water Authority (Dewa) for the 2,400 MW Hassyan Energy Project.-TradeArabia News Service
