Saudi Green Initiative - renewable investments

In the context of the Saudi Green initiative, seven contracts for a combined capacity of almost 3.7 GW of solar have been settle in the country.  One of the projects, Sudair, will have a capacity of 1.5 GW,

 

The contracts were made with five consortia, in which ACWA Power partnered with 12 domestic and international firms, with a PPAs set at $10.4/MWh. The government-run Public Investment Fund owns half of the utility company.

  

The objectives of these projects are for Saudi Arabia to develop 5 to 7 GW in solar energy projects per year and to reach a 50% share in the production of electricity from renewables by the end of the decade.

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