The opening of the Sakaka solar power plant coupled with the announcement of seven new solar power projects as part of the new Saudi Arabia Green initiative makes a powerful statement that one of the world’s leading oil producers is absolutely committed to being a leader in the global fight against climate change. By Nava […]
- Tag "PIF"
A consortium backed by Saudi Arabia’s sovereign wealth Public Investment Fund (PIF) has signed a 25-year power purchase agreement with Saudi Power Procurement Company for electricity from an up to 1500MW solar farm. Initial commissioning of the Sudair project, located in Sudair Industrial City, is expected in the second half of 2022. Sudair will have […]
Sudair Solar PV project is set to become one of the world’s largest Solar PV plants by capacity and Saudi Arabia’s largest. The project is considered a key achievement towards PIF’s commitment to develop 70% of Saudi Arabia’s renewable energy by 2030. With an investment value of approximately SAR 3.4 billion and 1,500MW, Sudair Solar […]
Saudi Arabia’s Public Investment Fund (PIF) has raised its shareholding in renewable energy developer ACWA Power. The sovereign wealth fund has taken its stake from 33.36% to 50% to ensure the Riyadh-based power company plays “an integral role” in developing the state-owned wealth fund’s renewable energy interests, it said. In a statement, the PIF said […]