The Saudi Energy Purchase Company signs a purchase agreement for three new solar energy projects with a capacity of 4,550 megawatts

Riyadh 01 Dhu al-Qi`dah 1444 AH corresponding to May 21, 2023 AD
The Saudi Energy Purchase Company signed energy purchase agreements for three new solar photovoltaic projects, within the projects of the National Renewable Energy Program supervised by the Ministry of Energy, with a total capacity of 4,550 megawatts, with the alliance of ACWA Power and the Water and Electricity Holding Company (BADIL) owned by the Public Investment Fund. .
These new projects include (Al-Rass 2 project) with a capacity of 2,000 megawatts and the purchase price of electricity for the project is 6.36 halalas per kilowatt-hour, and (Saad 2 project) with a capacity of 1125 megawatts and the purchase price of electricity is 6.72 halalas per kilowatt-hour, and (Al-Kahfah project) with a capacity of 1425 megawatts and the purchase price of electricity 6.63 halalas per kilowatt-hour, as the three projects are expected to contribute to supplying approximately 750,000 housing units with renewable electric energy annually.
These projects come as an extension of the work of the energy system towards achieving the goals of the Kingdom’s Vision 2030, and contribute to reaching the optimal energy mix for electricity production, and displacing liquid fuel in the electricity production sector in the Kingdom, by taking advantage of renewable energy sources and vast areas to develop its projects that it enjoys throughout the Kingdom. And the development of high-efficiency gas-fired power plants, so that the share of renewable energy sources in this mix is about 50% by 2030.