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Saudi adds 5,500MW to meet its renewable energy target

By Pramod Kumar
Saudi Arabia's energy minister Abdulaziz bin Salman Al Saud at the power purchase agreement signing ceremony Saudi Energy Ministry
Saudi Arabia's energy minister Abdulaziz bin Salman Al Saud at the power purchase agreement signing ceremony

Saudi Arabia has launched three new mega solar PV projects with a total capacity of 5,500 megawatts (MW).

State-owned Saudi Power Procurement Company (SPPC) has signed power purchase agreements for three projects with Acwa Power Company, Water & Electricity Holding Co. (Badeel), a wholly owned unit of Public Investment Fund, and Saudi Aramco Power Company.

The cost of the projects were not given.

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The kingdom has awarded 21 renewable energy projects, collectively more than 19 gigawatts (GW) of capacity, under the National Renewable Energy Programme, the ministry said in a statement. 

One gigawatt is enough energy to power about 750,000 homes.

Seven projects, totalling 4.1GW, have been connected to the grid, while another eight projects, with a combined capacity of 8.2GW, are under construction. 

Six projects, with a total capacity of 7GW, are nearing financial closure.

Since the start of 2024, six new projects with a total capacity of 6.7GW have been launched. 

The kingdom plans to launch additional projects to achieve the interim target of 20GW of electricity from renewable energy by the end of 2024.  

This week the kingdom launched a survey involving 1,200 sites to find the best places for future solar and wind power projects.   

Energy minister Abdulaziz bin Salman Al Saud, who has signed contracts for Saudi companies to conduct the survey, said it was the largest of its kind in the world. 

“The kingdom will tender new renewable energy projects with a capacity of 20GW annually, aiming to reach between 100GW and 130GW by 2030, depending on electricity demand growth,” he said.

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