State-backed Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for three new solar photovoltaic (PV) projects in Makkah and Qassim, with a total capacity of 5,500 megawatts (MW), with Saudi-listed ACWA Power Company and Water & Electricity Holding Co. (Badeel), a wholly-owned subsidiary of Public Investment Fund and Saudi Aramco Power Company.
Since the launch of the National Renewable Energy Programme, 21 renewable energy projects have been awarded, collectively exceeding 19 gigawatts (GW) in capacity.
Seven projects, totaling 4.1 GW, are already connected to the grid, and another eight projects, with a combined capacity of 8.2 GW, are currently under construction.
Additionally, six projects, with a total capacity of 7 GW, have reached the financial closure stage.
Six new projects with a total capacity of 6.7 GW have been launched since the beginning of 2024.
The annual plan includes launching additional projects to achieve the interim target of 20 GW of electricity from renewable energy by year-end.
