ACWA Power, Badeel to develop over 2,000MW solar plant
It is expected to operate in the fourth quarter of 2025.
ACWA Power, and the Water and Electricity Holding Company (Badeel), a wholly-owned company by the Public Investment Fund, have signed a power purchase agreement for the development of a 2,060-megawatt (MW) solar plant in Al Shuaibah in Makkah Province in Saudi Arabia.
In a joint statement, the companies said they will each hold a 50% equity stake in the project through the joint company Shuaibah Two Electrical Energy Company which will be dedicated to the project’s development.
The solar plant, the largest facility of its kind in the Middle East to date, is expected to start operations by the fourth quarter of 2025.
ACWA Power and Badeel said the Saudi Power Procurement Company will be the off-taker of the project following the signing of a PPA with the joint firm.
When completed, the Al Shuaibah 2 facility will produce power that will supply 350,000 homes.