The Saudi Ministry of Energy announced it was launching two renewable energy projects, Al Rass and Saad, with a combined capacity of 1,000 megawatts, Reuters reported. These two projects are valued at approximately $665 million.
The Saudi Power Purchasing Company (SPPC) has signed relevant project agreements, including power purchase agreements, with the winning Ar Rass Solar Projects consortium, which includes Ar Rass Solar Energy Company, owned by ACWA Power, as a managing and technical member, SPIC and WEHC as members.
The Saad Solar project wining consortium is led by Jinko Power (HK) Company Limited as a managing and technical member of Jinko Power Middle East Holding Co. Ltd and Jinko Power Dhafra Holding Co as members.
Saudi Energy Minister Prince Abdulaziz bin Salman said that “the energy ecosystem, seeking to achieve an optimal energy balance, aims to launch additional renewable energy projects with a total capacity of about 15,000 MW in 2022 and 2023.”