Saudi Arabia’s energy firm, ACWA Power, has launched the 600 MW Al Shuaibah PV 1 solar project in Makkah. This development received its Commercial Operation Certificate from the Saudi Power Procurement Company (SPPC), confirming its full operational capacity.
The ownership of the Al Shuaibah project is divided among ACWA Power (35.01%), Badeel (34.99%), and SAPCO (30%), with SPPC acting as the procurer. In August 2023, ACWA Power announced the financial closure of both Al Shuaibah PV 1 and the 2,031 MW Al Shuaibah PV 2 projects, with a combined investment of USD$2.37 billion.
In October 2024, ACWA Power, alongside partners Badeel and SAPCO, finalized financial agreements for three solar projects in Saudi Arabia, totaling 5.5 GW and valued at SAR12 billion (US$3.2 billion). These include the 2 GW Haden, 2 GW Muwayh, and 1.5 GW Al Khushaybi projects, set in Makkah and Qassim. These solar parks are scheduled to begin operations in early 2027, supplying energy to SPPC.
As of the end of 2023, solar power constituted 2.5% of Saudi Arabia’s total capacity, amounting to 2.3 GW, and less than 1% of its electricity generation. The nation aims to achieve 50% renewable energy in its power mix by 2030 and reach net-zero emissions by 2060.
