Saudi’s ACWA Power, BADIL, to develop the largest solar plant in MENA
ACWA Power and BADIL, a subsidiary of the Public Investment Fund (PIF), signed an agreement to establish the largest solar power plant in the Middle East and North Africa in Makkah Al-Mukarramah, Saudi Arabia.
According to a statement published by the Water and Electricity Holding Company, BADIL, the project’s production capacity is 2060 megawatts and will be built in Shuaiba in the Makkah Al-Mukarramah region.
The company said that ownership of the project will be jointly owned by “Badil” and “ACWA Power” companies, at a rate of 50% each, by establishing a joint venture company for the development of the project under the name of “Second Shuaiba Electric Power Company”.
It added that BADIL and ACWA Power will build, own and operate the second Shuaiba station and sell electricity through it to the Saudi Energy Procurement Company. This station will supply 350,000 residential units with electricity when fully completed.
ACWA Power’s Shuaiba station is the kingdom’s sixth solar energy generation station. The portfolio of ACWA Power projects locally includes 13 stations for electricity generation, water desalination, and green hydrogen production.
ACWA Power announced the signing of a power purchase agreement recently for the largest solar photovoltaic power plant in the Middle East and North Africa region, the second Shuaiba solar photovoltaic plant in Makkah Al-Mukarramah, with a production capacity of 2060 megawatts, at a value of $1.75 billion.
It was explained that the contract period was 35 years. This means that the second Shuaiba photovoltaic solar power plant will be developed, financed, built, owned, and operated, with a production capacity of 2060 megawatts.