public investment fund

ACWA Power has secured loan financing of US$2.3 billion (SAR8.6 billion) to support the construction of three new solar projects in the state.

Nextracker has been selected to supply its smart solar trackers and TrueCapture technology for the first phase of a 450MW PV project in Sudair, Saudi Arabia, which Nextracker said was the country’s largest solar plant currently under construction.

Saudi Arabia’s Public Investment Fund and partners to deliver directly 2GW of the total pipeline, with plans to host a public tender for 600MW.

Private equity fund SoftBank Vision Fund has officially signed a memorandum of understanding (MOU) with Saudi Arabia’s Public Investment Fund (PIF) to develop 3GW of PV and energy storage capacity within Saudi Arabia.