INTIEASaudi Arabia · Saudi Green Initiative - renewable investmentsPolicyIn force

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…

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EffectiveJan 01, 2021
Last changeJul 19, 2021

Country / jurisdiction: Saudi Arabia · Year: 2021 · Status: In force · Level: National · Type: Voluntary

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.

Official source: https://saudigreeninitiative.org/

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https://www.iea.org/policies/13392

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