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Saudi Arabia Procurement News Notice - 82423


Procurement News Notice

PNN 82423
Work Detail Impact will be reflected in Q4 2024 financials ACWA Power said that the 600-megawatt (MW) Al Shuaibah 1 solar photovoltaic (PV) power plant has received a commercial operation certificate from Saudi Power Procurement Company (SPPC). The company expects the financial impact of operating the station to be reflected during the fourth quarter of 2024, the company said in a statement to the Saudi stock exchange on Wednesday. In August 2023, the consortium of ACWA Power, Water and Electricity Holding Company (Badeel) and Saudi Aramco announced the financial closure of Al Shuaibah 1 and 2 Independent Water and Power Projects (IWPPs), with a combined capacity of over 2.6 gigawatts (GW). SPPC is the principal buyer, responsible for tendering the projects and purchasing the power generated. Ownership of Al Shuaibah 1 and 2 IWPPs is divided among ACWA Power (35.01 percent), Badeel (34.99 percent) and Aramco (30 percent).
Country Saudi Arabia , Asia
Industry Energy & Power
Entry Date 16 Nov 2024
Source https://www.zawya.com/en/projects/utilities/acwa-power-starts-commercial-operations-at-al-shuaibah-1-solar-pv-plant-sjis5wdl

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