ACWA Power signs 12GW solar PV PPAs in Saudi Arabia
Type: Ppa · Technology: Solar · Country: Saudi Arabia · Value: $22.5B · Announced: 2025-07-14
ACWA Power signed 25-year power purchase agreements with Saudi Power Procurement Company (SPPC) for five solar PV projects totaling 12GW (Afif1, Afif2, Khulis at 2GW each; Humaij and Bisha at 3GW each) in Saudi Arabia, with ACWA to develop, finance, build, own and operate the projects and hold a 35.1% stake in each project company alongside Badeel (PIF subsidiary) and Saudi Aramco Power Company.
Counterparties
- Badeel (a wholly owned subsidiary of the Public Investment Fund) (Investor)
- Saudi Aramco Power Company (Investor)
- Saudi Power Procurement Company (SPPC) (Offtaker)
- ACWA Power (Developer)
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