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.
French oil major Total and industrial conglomerate Zahid Group have established a joint venture (JV) focused on distributed solar generation for Saudi Arabia’s commercial and industrial (C&I) sector.
Saudi Arabian developer ACWA Power has signed a US$125 million facility that will serve as a funding source to support the growth of its green energy portfolio.
A joint venture project has been launched to develop what intends to be the world’s largest green hydrogen project, using up to 4GW of solar and other renewables as its power source.
Saudi Arabian developer ACWA Power has set its sights on an accelerated growth trajectory after China’s Silk Road Fund completed the purchase of a minority stake in the firm’s renewables arm.
Kingdom pre-selects ACWA, First Solar, Marubeni, Masdar and others for projects ranging from 20MW to 600MW, with ultra-low prices heralding new PV boost in Middle Eastern kingdom.
The solar boom being fostered by UAE, Saudi Arabia and others is fuelling the appetite for imported PV components. Top Chinese makers walk PV Tech's Carrie Xiao through their steps to succeed in a region of megaprojects.
Middle Eastern kingdom launches third round of renewable programme to find developers for four solar plants, adding to the six PV projects yet to be awarded under the second round.
Connection of 300MW venture by ACWA Power and AlGihaz comes after their world-record bid of 8.781 halalas/kWh (US$2.34/kWh) in the first round of Saudi Arabia's renewable tender programme.
