Saudi Utility Giant ACWA Power Commences Commercial Operations at Three Solar Power Plants
Combined capacity of 2.79 gigawatts marks significant step towards Kingdom's renewable energy goals.
Riyadh: Saudi utility giant ACWA Power has successfully initiated commercial operations at three solar power plants in Saudi Arabia, bolstering the nation's commitment to clean energy production.
The combined capacity of these facilities stands at an impressive 2.79 gigawatts, reflecting a substantial stride towards achieving the Kingdom's renewable energy objectives.The milestone was marked by the issuance of initial commercial operation certificates for significant projects within ACWA Power's portfolio.
Among these is the Al Kahfah solar Independent Power Plant project, situated in the Hail region and boasting a capacity of 1,425 megawatts.
Additionally, ACWA Power has secured commercial operations certificates for 1,000 MW at the Al-Rass 2 solar PV plant in Qassim, as well as for the remaining 365.7 MW capacity within the SAAD 2 PV project located in Riyadh, which now brings its total operating capacity to 1,125 megawatts.These developments align seamlessly with Saudi Arabia's broader strategy to harness clean energy sources, particularly solar power, to generate a significant portion of its future energy portfolio.
The Kingdom envisions reaching an impressive 58.7 gigawatts of renewable energy by 2030, with a substantial emphasis on solar photovoltaic systems accounting for approximately 40 gigawatts of the total capacity.
Additionally, wind energy and concentrated solar power are expected to contribute 16 gigawatts and 2.7 gigawatts respectively.This ambitious commitment is integral to Saudi Arabia's National Renewable Energy Program, which aims to diversify its energy resources and reduce dependency on fossil fuels.
By investing in renewable projects, the Kingdom seeks a sustainable energy landscape that aligns with global environmental goals while ensuring energy security.ACWA Power, as the majority stakeholder, holding a 50.1 percent interest in Al-Kahfah, Ar Rass 2, and SAAD 2 solar projects, anticipates these operational milestones to positively influence its financial performance in the latter half of this year.
This positive trajectory is further reinforced by ACWA Power's role in leading a consortium that recently signed agreements worth SR31 billion ($8.3 billion) for the development of seven major solar and wind energy projects across Saudi Arabia, showcasing the company's pivotal contribution to the Kingdom's green energy future.
The combined capacity of these facilities stands at an impressive 2.79 gigawatts, reflecting a substantial stride towards achieving the Kingdom's renewable energy objectives.The milestone was marked by the issuance of initial commercial operation certificates for significant projects within ACWA Power's portfolio.
Among these is the Al Kahfah solar Independent Power Plant project, situated in the Hail region and boasting a capacity of 1,425 megawatts.
Additionally, ACWA Power has secured commercial operations certificates for 1,000 MW at the Al-Rass 2 solar PV plant in Qassim, as well as for the remaining 365.7 MW capacity within the SAAD 2 PV project located in Riyadh, which now brings its total operating capacity to 1,125 megawatts.These developments align seamlessly with Saudi Arabia's broader strategy to harness clean energy sources, particularly solar power, to generate a significant portion of its future energy portfolio.
The Kingdom envisions reaching an impressive 58.7 gigawatts of renewable energy by 2030, with a substantial emphasis on solar photovoltaic systems accounting for approximately 40 gigawatts of the total capacity.
Additionally, wind energy and concentrated solar power are expected to contribute 16 gigawatts and 2.7 gigawatts respectively.This ambitious commitment is integral to Saudi Arabia's National Renewable Energy Program, which aims to diversify its energy resources and reduce dependency on fossil fuels.
By investing in renewable projects, the Kingdom seeks a sustainable energy landscape that aligns with global environmental goals while ensuring energy security.ACWA Power, as the majority stakeholder, holding a 50.1 percent interest in Al-Kahfah, Ar Rass 2, and SAAD 2 solar projects, anticipates these operational milestones to positively influence its financial performance in the latter half of this year.
This positive trajectory is further reinforced by ACWA Power's role in leading a consortium that recently signed agreements worth SR31 billion ($8.3 billion) for the development of seven major solar and wind energy projects across Saudi Arabia, showcasing the company's pivotal contribution to the Kingdom's green energy future.
