Acwa Power, a Saudi energy company, and the Water and Electricity Holding Company (badeel) have agreed to construct, own, and operate a 2.06 GW solar photovoltaic (PV) plant in the Makkah province of Saudi Arabia. The Al Shuaibah II project, which is situated in Al Shuaibah, will be jointly owned by Badeel, a fully owned subsidiary of the nation’s Public Investment Fund, and ACWA Power (PIF). The facility will be the sixth solar energy one for ACWA Power in Saudi Arabia.
Shuaibah Two Electrical Energy Company, a joint venture between ACWA Power and Badeel, was established to develop the Al Shuaibah II project. Each partner holds 50 per cent of the joint company, which also has an arrangement to purchase electricity from the Saudi Power Procurement Company (SPPC). In the fourth quarter of 2025, the solar PV project is anticipated to begin operating commercially. It is expected to be the largest facility of its type in the Middle East once it is fully operating.
In November 2022, ACWA Power was awarded a contract to construct two floating solar photovoltaic (PV) power projects from Indonesia’s state-owned utility PT Perusahaan Listrik Negara (PLN). The agreement covered the 50 MWac floating solar project Singkarak in addition to the 60 MWac Saguling project. The two projects would cost a total of $105 million to build and have a combined capacity of 110 MWac.