ACWA POWER signs PPA for Layla PV Solar IPP in Al Al-Aflaj for SR 401mln

ACWA POWER Company announced the signing of the Power Purchase Agreement (PPA) for Layla PV Solar IPP (the Project), a 91MW PV plant located in Al Al-Aflaj governorate in Riyadh province in the Kingdom of Saudi Arabia. Having submitted the lowest bid of 11.2 halala/KWh, ACWA Power was announced as the preferred bidder for Layla PV which was tendered as part of Round Three of the National Renewable Energy Program (NREP) by the Ministry of Energy.

The PPA has been signed between Layla Solar Energy Company (the project company and affiliate of ACWA Power) and Saudi Power Procurement Company (Principal Buyer). The project is valued around SAR 401 Million SAR.

The financial impact of the contracted revenues is expected once the Project achieves Project Commercial Operating Date (PCOD) on Q1 2024G.

Layla project is an extension of the National Renewable Energy Program (NREP) in kingdom, where it has been tendered by the Ministry of Energy. ACWA Power will effectively own 40.1% of the project.