By: AGBI

Saudi Arabia has signed deals for seven new solar and wind power projects as part of the kingdom’s drive to back renewables.

The projects will generate 15,000 megawatts (MW) at a total investment of SAR31 billion ($8.3 billion), the state-run Saudi Press Agency reported.

The agreements were signed with a consortium led by Saudi-listed Acwa Power as the main developer, in partnership with the Water and Electricity Holding Company (Badeel), owned by the Public Investment Fund, and Aramco Power, owned by Saudi Aramco.

The solar projects include 3,000MW Bisha, Aseer; 3,000MW Humaij, Medina; 2,000MW Khulis, Medina, and Afif 1 and 2, Riyadh, 2,000MW each.

The two wind power projects are the 2,000MW Starah and 1,000MW Shaqra in Riyadh.

State-owned Saudi Power Procurement Company (SPPC), the principal buyer, will prepare feasibility studies, tender projects, and sign power purchase agreements with developer consortia, the report said.

Founded in 2017, SPCC has launched renewable projects with a total capacity of 43,213MW. Of these, power purchase agreements have been signed for projects providing 38,713MW.

Nearly 10,200MW have already been connected to the grid. The capacity is expected to reach 12,713MW by the end of 2025, and 20,013MW by the end of 2026, SPA said.