The Clap
“Badeel”, a subsidiary of the Saudi Public Investment Fund (PIF), signed an agreement with ACWA Power (2082) to establish the largest solar power plant in the MENA region, boasting a production capacity of 2,060 megawatts.
What
The project will be jointly owned by “Badeel” and “ACWA Power”, each owning a 50% stake, through a joint venture company under the name of “Second Shuaiba Electric Power Company”.
The project is expected to be completed in phases, the last of which will end in Q4 2025.
ACWA Power added that the $1.75 billion purchase agreement was signed between its “Second Shuaiba Electric Power” company and the Saudi Company for Energy Purchase.
So What
Second Shuaiba is the sixth solar power plant in KSA. ACWA Power’s portfolio of local projects includes 13 electricity generation stations, water desalination, and green hydrogen production.
Now What
Badeel and ACWA Power are also developing the Sudair Solar Project, the cornerstone of the PIF’s commitment to developing renewable energy projects.
