A consortium of Saudi-based developer ACWA Power and contractor AlGihaz have closed financing of the SAR1.2 billion (US$319 million) Sakaka solar project standing at 300MW in Al Jouf, Saudi Arabia, a project that attracted headlines across the world last year after the government chose ACWA Power despite Masdar putting in the lowest ever solar bid.
Independent power producer ACWA Power expects to see a 2% yield improvement following the installation of Huawei’s FusionSolar Smart PV Management System.
Acwa Power has contracted China’s Chint Group to provide EPC services for three solar PV plants totalling 165.5MW at the Benban Solar Park in Aswan, Egypt.
ACWA Power has reached financial close on three solar PV projects under round two of Egypt Feed-in-Tariff program II – with the three installations boasting a generation capacity of 165.5MW.
UPDATED: Saudi Arabia’s Renewable Energy Project Development Office (REPDO) has shortlisted local firm Acwa Power and a consortium led by Japanese conglomerate Marubeni Corporation to develop 300MW of solar PV in Sakaka, Al Jouf.
The European Bank for Reconstruction and Development (EBRD) has provided a US$22 million loan for a 50MW solar PV project being developed by Acwa Power in the Risha region of Jordan.
Yesterday’s record-breaking bid opening in Saudi Arabia for 300MW of solar has grabbed headlines, including on PV Tech, but while the exact parameters of the RfP remain covert, the bid levels have sparked debate about whether such low prices can be possible without some kind of escalating tariff mechanism or other distortion.
ACWA Power has broken ground on the 72MW Noor Ouarzazate IV plant – the first phase of the Noor Solar Plan, which aims to develop 2GW of solar by 2020.
