Tuesday, February 7 2023 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Feb 06
Week of Jan 30
Week of Jan 23
Week of Jan 16
Week of Jan 09
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Saudi Arabia to build largest photovoltaic facility in Mideast


    November 30, 2022 - Xinhua News Agency

     

      RIYADH, Nov. 30 (Xinhua) -- Saudi Arabia announced Wednesday the signing of an agreement to build the largest solar photovoltaic facility in the Middle East and North Africa region.

      The agreement was signed between Water and Electricity Holding Company (Badeel), a company owned by Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF), and ACWA Power, a leading Saudi developer, investor, and operator of power generation.

      The 2,060 megawatts solar photovoltaic (PV) plant in Al Shuaibah of Makkah province is expected to achieve commercial operation by the fourth quarter of 2025, the Saudi Press Agency reported.

      Badeel and ACWA Power will jointly own the project with each company holding 50 percent equity stake through the establishment of Shuaibah Two Electrical Energy Company, a joint venture dedicated to developing the project.

      Yazeed A. Al-Humied, deputy governor and head of MENA investments at PIF, said the project comes as part of the PIF's commitment to providing 70 percent of Saudi Arabia's renewable energy by 2030.

      He added that renewables is one of PIF's priority sectors as part of its domestic strategy, which focuses on unlocking the capabilities of promising sectors to enhance Saudi Arabia's efforts in diversifying revenue sources.

      Saudi Arabia announced in September five new renewable projects with a total capacity reaching 3,300 megawatts to produce electricity, including three projects using wind energy and two using solar energy.

      The projects are part of the kingdom's target of reaching the best energy mix to produce electricity in Saudi Arabia from renewable energy resources. Enditem

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.