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On July 14, 2025, Saudi Arabia signed power purchase agreements for seven utility-scale solar and wind projects totaling 15 gigawatts (GW) of clean energy capacity. The $8.3 billion initiative—led by ACWA Power, Aramco’s SAPCO, and PIF-owned Badeel—marks a major step toward the Kingdom’s goal of installing 130 GW of renewables by 2030, with 70% of that capacity delivered through the Public Investment Fund (PIF).
⚡ Project Overview
- Total Capacity: 15 GW
- Solar PV: 12 GW
- Wind: 3 GW
- Financial Close: Targeted for Q3 2025
- Operational Timeline: Between late 2027 and early 2028
- Ownership: Jointly held by ACWA Power, Badeel, and SAPCO
📍 Project Locations
| Project | Type | Capacity | Region |
|---|---|---|---|
| Bisha | Solar PV | 3,000 MW | Asir |
| Humaij | Solar PV | 3,000 MW | Madinah |
| Khulis | Solar PV | 2,000 MW | Makkah |
| Afif 1 & 2 | Solar PV | 4,000 MW | Riyadh |
| Starah | Wind | 2,000 MW | Riyadh |
| Shaqra | Wind | 1,000 MW | Riyadh |
🌍 Strategic Impact
- ACWA Power’s domestic renewables portfolio expands to 34 GW, with a global footprint exceeding 51.9 GW.
- Aramco’s New Energies division strengthens its role in diversifying the Kingdom’s energy mix and advancing net-zero goals.
- Badeel’s investment supports national energy resilience and economic diversification.
🗣️ Leadership Commentary
- Marco Arcelli, CEO of ACWA Power: “This landmark agreement reflects our dedication to advancing a more sustainable energy future.”
- Sultan AlNabulsi, Acting CEO of Badeel: “This investment will enhance the resilience of the energy sector and boost national economic competitiveness.”
- Waleed Al Saif, SVP of New Energies at Aramco: “We aim to unlock additional value from Saudi Arabia’s natural resources and grow our renewables portfolio.”
This development is part of Saudi Arabia’s National Renewable Energy Program (NREP), overseen by the Ministry of Energy and aligned with Vision 2030, which seeks to reduce reliance on fossil fuels and position the Kingdom as a regional leader in clean energy.
