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Logo of ACWA Power Co.
ACWA Power Co. said it received today, Aug. 20, a notice from Isha Renewable Energy Co. confirming the commercial operations certificate for the full 1,425 megawatts at the Al Kahfah solar PV plant in Hail.
The company also received a notice from Saad Two Renewable Energy Co. confirming the second commercial operations certificate for 365.7 megawatts, bringing the Saad 2 solar PV plant in Riyadh to its full capacity of 1,125 megawatts.
For more news and details on the projects
In addition, ACWA Power said Nawwar Renewable Energy Co. confirmed the first commercial operations certificate for 1,000 megawatts at the Al Rass 2 solar PV plant in Qassim, which will reach a total capacity of 2,000 megawatts.
The impact of the three projects is expected to be reflected in H2 2025 financials, the company said in a statement to Tadawul.
ACWA Power owns 50.1% of the project companies, while Water and Electricity Holding Co. (Badeel), a unit of the Public Investment Fund (PIF), holds the remaining 49.9%.
In May 2023, ACWA Power signed power purchase agreements to develop, implement, and operate three major solar photovoltaic (PV) projects (Ar Rass 2, Saad 2, and Al-Kahfah) located in central and northern Saudi Arabia, with a production capacity of 2,000 MW, 1,125 MW, and 1,425 MW, respectively. The contract value is SAR 12.19 billion, with a duration of 35 years for each agreement.
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