ACWA Power Commences Commercial Operation of Sudair Solar Plant
Saudi Arabia’s ACWA Power has initiated the commercial operation of the first phase of the Sudair Solar Photovoltaic Plant located in the Sudair Industrial City, approximately 150 kilometers from Riyadh, announced the company on Tadawl, a Saudi stock market website. This marks a significant step in the country’s renewable energy journey.
Phase One Activation
The first phase represents 50% of the plant’s total capacity, which will reach 1500 megawatts upon completion. ACWA Power expects the financial impact of this phase to reflect in their Q4 financial statements, as per the company.
ACWA Power owns 35% of Sudair First Renewable Energy Company, the project’s owner. Badeer Company fully-owned by Saudi Public Investment Fund and Saudi Aramco hold 35% and 30% stakes, respectively. The company recently received the initial commercial operation certificate for this phase.
The Public Investment Fund launched the Sudair Solar Project in April 2021, with an investment of 3.5 billion Riyals ($924 million).
Environmental and Social Impact
The Sudair Solar Plant will meet the energy needs of 185,000 residential units. It will also reduce about 2.9 million tons of carbon emissions annually, as per ACWA Power website ,contributing significantly to environmental sustainability.
ACWA Power
It specializes in developing, investing, co-owning, and operating a range of power generation and desalination plants. The company has operations in 12 countries, spanning the Middle East, Africa, Central Asia, and South-East Asia.
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