Saudi Arabia invests in solar power plant

Can Saudi Arabia generate 50 percent of electricity from renewable sources?

A solar plant in Uyayna, north of Riyadh. The kingdom's National Renewable Energy Programme aims to generate 50 per cent of electricity from renewable sources by 2030. AFP Two major solar photovoltaic power projects in Saudi Arabia have achieved financial close with total investment of $2.37 billion.

Who owns solar power projects in Saudi Arabia?

AFP Two major solar photovoltaic power projects in Saudi Arabia have achieved financial close with total investment of $2.37 billion. The projects are being developed by energy company Acwa Power, the Water and Electricity Holding Company, or Badeel – which is owned by the Public Investment Fund – and the Saudi Aramco Power Company.

What is Saudi Arabia's largest solar power plant?

Saudi Arabia has unveiled the world's largest solar-power facility, with a generation capacity of 2,060 MW, which is expected to start operations by the end of 2025.

What is the Wadi Al Dawasir solar project?

This renewable project is a new milestone for TotalEnergies in Saudi Arabia where TotalEnergies is currently building the 119 MW Wadi Al Dawasir solar power plant, which will start operations in early 2025.

What does the Saudi energy fund do?

The Fund also backs the Sudair Solar plant, which is being built by Badeel and ACWA Power with the Saudi Aramco Power Company. Sudair will be capable of producing up to 1.5 gigawatts, enough to power 185,000 households, while cutting carbon emissions by 2.9 million tons annually.

Who owns the Sudair solar project in Saudi Arabia?

The project will be developed and operated by a 50:50 joint venture established by ACWA and Badeel. The two companies are also developing the Sudair 1.5‑GW solar facility, and both companies are backed by the Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), which holds a 50% and 100% stake in ACWA and Badeel respectively.