ACWA Power starts partial commercial ops at Saad 2 PV project

Logo of ACWA Power Co.

ACWA Power Co. received on July 22 a commercial operation certificate for 759.3 MW of the total 1,125 MW capacity of the Saad 2 photovoltaic (PV) solar power plant in Riyadh.

According to a statement to Tadawul, the company’s stake in the project stands at 50.1%, and the financial impact of the project’s operation is expected to reflect during H2 2025.

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In May 2023, ACWA Power signed power purchase agreements (PPAs) for three large-scale PV solar plants, namely Ar Rass 2, Saad 2, and Alkahfah, with a production capacity of 2,000 megawatts (MW), 1,125 MW and 1,425 MW of renewable power, respectively, Argaam reported.

The aggregate value of this 35-year contract stands at SAR 12.19 billion ($3.25 billion).