Saudi Companies Sign Deals for $8.3 Billion Renewable Energy Projects
A group of companies led by Saudi energy firm ACWA Power has signed agreements to develop renewable energy projects. These projects will produce a total of 15 gigawatts (GW) of clean energy and cost around $8.3 billion, according to the Saudi Press Agency (SPA).
Big Clean Energy Projects
ACWA Power, the main developer, signed seven deals with partners including Badeel (owned by the Public Investment Fund) and Aramco Power. The deals were made with the Saudi Power Procurement Company, which represents the government.
These agreements are part of Saudi Arabia’s National Renewable Energy Program, which is managed by the Ministry of Energy. The projects include five solar power plants and two wind power plants in different parts of the country.
Solar Projects
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Bisha (Asir) – 3,000 megawatts (MW)
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Humaij (Madinah) – 3,000 MW
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Khuli (Makkah) – 2,000 MW
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Afif 1 (Riyadh) – 2,000 MW
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Afif 2 (Riyadh) – 2,000 MW
Wind Projects
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Starah (Riyadh) – 2,000 MW
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Shaqra (Riyadh) – 1,000 MW
Saudi Arabia’s Green Plan
Saudi Arabia has a goal to build 130 GW of renewable energy by the year 2030 to support clean energy and reduce reliance on oil.
Published: 15th July 2025
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