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Saudi Arabia’s Water and Electricity Holding Company (Badeel), a subsidiary of the Public Investment Fund (PIF), and ACWA Power have signed power purchase agreements to develop the largest solar energy plant in the Middle East. The 2,060 MW plant is to be built in Al Shuaibah and is expected to be operational by 2025. The electricity generated from this solar energy plant will be sold to the Saudi Power Procurement Company and is expected to power 350,000 homes. Yazeed A. Al-Humied, head of MENA Investments at PIF, said in a statement, “This marks a key achievement toward PIF’s commitment to develop 70% of Saudi Arabia’s renewable energy by 2030.”

Saudi Arabia Will Host The Middle East’s Largest Solar Facility

Saudi Arabia’s Water and Electricity Holding Company (Badeel), a subsidiary of the Public Investment Fund (PIF), and ACWA Power have signed power purchase agreements to develop the largest solar energy plant in the Middle East. The 2,060 MW plant is to be built in Al Shuaibah and is expected to be operational by 2025. The electricity generated from this solar energy plant will be sold to the Saudi Power Procurement Company and is expected to power 350,000 homes. Yazeed A. Al-Humied, head of MENA Investments at PIF, said in a statement, “This marks a key achievement toward PIF’s commitment to develop 70% of Saudi Arabia’s renewable energy by 2030.”

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