ACWA Power Signs SAR 31.1 Billion PPAs for 7 Renewable Projects

ACWA Power announced on Monday the signing of Power Purchase Agreements (PPAs) for seven large-scale renewable energy projects, totaling SAR 31.1 billion.

The agreements include five PV solar plants (Afif1, Afif2, Humaij, Bisha, Khulis) with a combined capacity of 12,000 MW, and two wind plants (Starah and Shaqra) with a combined capacity of 3,000 MW.

Each project company is owned jointly by ACWA Power (35.1%), Badeel (34.9%), and Saudi Aramco Power Co. (30%). The projects will be developed and operated under 25-year contracts. The financial impact will be disclosed at financial close.