PIF’s Fully-Owned Company Badeel and ACWA Power Outlay USD 3.2 Billion into Three Solar Projects in Saudi Arabia
The three new solar projects are regarded as PIF’s commitment to producing 70% of Saudi Arabia’s renewable energy by 2030, in alignment with the National Renewable Energy Program.
May 22, 2023. By EI News Network
These new projects aimed to generate an integrated capacity of 4.55GWac of renewable energy, powering approximately 750,000 households.
The Ministry of Energy aims to achieve the goals of Saudi Arabia’s Vision 2030 in achieving the optimal power generation energy blend by displacing liquid fuels through tapping renewable energy sources.
The three new solar projects are regarded as PIF’s commitment to producing 70% of Saudi Arabia’s renewable energy by 2030, in alignment with the National Renewable Energy Program.
Renewable Energy is one of PIF’s priority sectors, with a focus on disclosing the potential of growing sectors and providing the private sector to enhance Saudi Arabia’s efforts in diversifying the economy.
ACWA Power's portfolio of solar projects with over 12GW of combined PV capacity, following the expansion of the three new projects.
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