ACWA Power, a Saudi developer, investor and operator of power generation, water desalination and green hydrogen plants worldwide, has signed solar photovoltaic (PV) power-purchase agreements (PPAs) with Badeel, a water and electricity holding company and a wholly owned company by the Public Investment Fund (PIF).
The partners plan to develop a 2,060-megawatt solar PV plant in Al Shuaibah, Makkah province. The project, dubbed the Al Shuaibah 2 facility, represents the largest facility of its kind in the Middle East to date. Once complete, it will power 350,000 homes.
Shuaibah 2 is ACWA Power’s sixth solar energy facility in Saudi Arabia.
Badeel and ACWA Power will each hold a 50 percent equity stake in the project through establishment of Shuaibah Two Electrical Energy Company, a joint company dedicated to the development of the project. The Shuaibah Two Electrical Energy Company has already signed PPAs with the Saudi Power Procurement Company.
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