A Saudi consortium led by ACWA Power has signed agreements worth SAR 31 billion ($8.3 billion) to develop seven large-scale solar and wind energy projects, with a total capacity of 15,000 megawatts.
The consortium also includes Water and Electricity Holding Co., a subsidiary of the sovereign Public Investment Fund (PIF), and Aramco Power, the energy arm of Saudi Aramco. The agreements fall under the National Renewable Energy Program, overseen by the Ministry of Energy and signed in the presence of Prince Abdulaziz bin Salman.
Five of the upcoming developments are photovoltaic solar plants: the Bisha Project in the Asir region and the Humaij Project in Madinah, each with a capacity of 3,000 MW; the Khulis Project in Makkah will generate 2,000 MW, while Afif 1 and Afif 2 in the Riyadh region will together provide an additional 4,000 MW.
On the wind energy front, two new projects will be built in Riyadh: the Starah Project (2,000 MW) and the Shaqra Project (1,000 MW).
According to the Saudi Ministry of Energy, this is the largest single-phase renewable energy capacity ever contracted worldwide. The announcement highlights the Kingdom’s ongoing commitment to expanding its clean energy infrastructure and its ability to supply electricity at globally competitive prices.
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