Saudi-based energy firm Acwa Power has received the commercial operation certificate for Group 3 of Sudair Solar Photovoltaic Project from the Saudi Power Procurement Company (SPPC).
Located in Saudi, the Group 3 included additional 25% of the total project capacity. With this, the plant has now attained its full 1500MW capacity, said the firm in its filing to Saudi bourse Tadawul.
Acwa Power owns a net stake of 35% in Sudair One Renewable Energy Company, the project developer. In addition, Water and Electricity Holding Company (Badeel) too has a 35% stake in the project, with the remaining 30% owned by the Saudi Aramco Power Company (Sapco).
Acwa Power and Badeel have jointly invested about SAR3.4 billion ($907 million) in the development of the Sudair solar project.The firm expects financial impact to be reflected in Q1 2024.
The consortium led by Acwa Power is backed by the PIF-and has signed a power purchase agreement with the SPPC for 25 years. Sudair PV IPP will be capable of powering 185,000 homes and offsetting nearly 2.9 million tonnes of emissions per year.
It may be noted that the commercial operations at Group 1 and 2 of Sudair Solar Photovoltaic Project was launched in September and October last year respectively. The recent project is Acwa Power’s second successful commercial launch of operations within the region.
Furthermore, in November last year, Acwa Power had received the plant commercial operation certificate from Dubai Electricity & Water Authority (Dewa) for the 2,400 MW Hassyan Energy Project.