saudi arabia

ACWA Power posted strong H1 2022 results as it continues to divert its portfolio to renewables and low-carbon technologies.

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.

Solar developers ACWA Power and Jinko Power have both penned power purchase agreements in Saudi Arabia, with the country aiming to launch 15GW of projects in the next two years.

A consortium including Saudi solar developer ACWA Power has inaugurated the 500MW Ibri 2 solar project in Oman, which becomes the country’s largest utility-scale solar project to date.  

Solar PV has taken off in the MENA region in recent years, driven by positive governmental policy, prominent tenders and decarbonisation targets. But challenges remain, both for smaller companies wishing to enter the market and in the operation of plants. Molly Lempriere takes a look at the market drivers and the challenges of competing.

Saudi solar developer ACWA Power has signed a memorandum of understanding (MoU) with Natixis Corporate & Investment Banking (Natixis CIB) that will see the partners explore opportunities to develop projects, including renewable energy plants.

In recent years the solar industry has seen some of the largest and cheapest contracts awarded in the MENA region. But with concerns over component price and availability, what can the industry expect from the solar sector in the MENA region in the medium-term?

Shortlisted bids in Saudi Arabia’s latest solar tender have jumped significantly on the lowest price recorded in the country’s previous renewables programme, reflecting the hikes in PV equipment costs in recent months.

Saudi developer ACWA Power has seen its initial public offering (IPO) application approved by the country’s Capital Market Authority (CMA) and intends list its shares on the Main Market of the Saudi Stock Exchange

A consortium that is developing Saudi Arabia’s largest solar project has reached financial close for the plant and has secured the backing of state oil producer Saudi Aramco.