Saudi Arabia’s Renewable Energy Project Development Office (REPDO) has announced that Saudi energy group ACWA is the final winner of the 300-megawatt Sakaka solar PV project tender it launched in February 2017. The project is part of the country’s plan for energy diversification and renewable energy leadership.
Representatives from ACWA Power will sign the power purchase agreement (PPA) for one of the lowest ever solar tariffs of Halala 8.7815/kWh with the principal off-taker, the Saudi Power Procurement Co.
The project is to reach financial close by Feb. 28, 2018, and start commercial operation in 2019.
The project is expected to involve a total private sector capital investment of about $300 million and will create job opportunities for more than 400 individuals.
