The Public Investment Fund (PIF) announced on Wednesday the launch of the largest solar power plant in the Middle East and North Africa at Al-Shuaiba in Makkah Al-Mukarramah as part of its renewable energy programme.
Zawya reported that a PIF-backed consortium comprising of ACWA Power (in which PIF holds a 50 percent stake) and Water and Electricity Holding Company (Badeel), a 100 percent-owned PIF unit, has signed a 35-year power purchase agreement (PPA) with the Saudi Power Procurement Company (SPPC) for the 2.06 Gigawatts (GW) solar power plant.
The project, with investment value of $1.75 billion, is expected to achieve commercial operation by the fourth quarter of 2025.
In April 2021, the same consortium had inked a PPA with SPPC for the 1,500MW Sudair solar photovoltaic (PV) plant in Sudair Industrial City in Riyadh province with an investment value of approximately 3.4 billion Saudi riyals ($905 million).
The project’s initial commissioning was expected during the second half of 2022.
In March 2022, the US-based Nextracker had announced that it will supply its smart solar trackers and software for the 450MW Phase 1 of Sudair solar PV plant, with installation expected to start in the second quarter of 2022.
(Writing by Senthil Palanisamy; Editing by Anoop Menon)