ACWA Power launches commercial ops at Al Shuaibah 1 solar PV plant

Logo of ACWA Power

ACWA Power was notified on Nov. 12 that the project company for the Al Shuaibah 1 solar photovoltaic (PV) power plant received a commercial operation certificate from Saudi Power Procurement Co. (Principal Buyer) for the full project capacity of 600 MW.

The company expects the financial impact of operating the station to appear during the fourth quarter of 2024, according to a statement to Tadawul.

For more news and details on the projects

In August 2023, the consortium of ACWA Power Co., Water and Electricity Holding Co. (Badeel), and Saudi Aramco announced the financial closure of Al Shuaibah 1 and 2 Independent Water and Power Projects (IWPPs), with a total capacity of more than 2.6 gigawatts (GW).

The Principal Buyer is responsible for offering the projects and purchasing energy. Al Shuaibah 1 and 2 IWPPs are owned by Badeel (34.99%), Aramco (30%), and ACWA Power (35.01%).