popular articles

ACWA Power to sell electricity at $0.012/kWh

Please share:

ACWA Power will sell the output of its 1.5 GW Sudair solar project at $0.012/kWh, the second-lowest tariff in the world.
The company has signed a 25-year power purchase agreement (PPA) with a consortium led by Saudi Arabia.

ACWA Power and its 762.3 million euro project

ACWA Power’s 1.5 GW Sudair solar project required a 50% stake from the Public Investment Fund (PIF).
But also the participation of the water and electricity holding company Badeel, a holding company 100% owned by the Saudi sovereign wealth fund.
The merger between ACWA Power and Saudi Power resulted in the signing of a power purchase agreement at the official launch of the SAR 3.4 billion ($906.7 million / €762.3 million) project.
It is one of seven PPAs recently signed for around 3 GW of solar photovoltaic capacity.
These will all go online in the Kingdom.

One of the lowest electricity rates in the world

ACWA intends to develop one of the largest single-contract photovoltaic parks in the country.
To achieve this, the complex will sell electricity at $0.01239, or €0.0084 / kWh.
This will be the second-lowest tariff in the world.
Initial commissioning is scheduled for the second half of next year.
Once fully operational, the solar park will have a staggering production capacity.
In fact, it will be capable of meeting the electricity demand of around 185,000 households a year.

Saudi Arabia aims for 58.7 GW of renewable energy by 2030

The Independent Power Producer (IPP) project will be implemented in line with the FIP commitment.
The latter calls for 70% of Saudi electricity to be renewable.
This is in line with Saudi Arabia’s Vision 2030 plan.
With this program, the Kingdom aims to achieve an installed renewable energy capacity of 58.7 GW.
Solar deployment will account for 40 GW.
This new ACWA Power project joins the 300 MW Sakaka solar park inaugurated on April 9, 2021.
With these projects, the company is demonstrating its determination to reassert itself as a key player in the renewable energies sector.
Saudi Arabia is also multiplying the number of projects on its soil, and is moving in this direction towards a massive deployment of cleaner energies.

Register free of charge for uninterrupted access.

Publicite

Recently published in

German group Next2Sun signs an agreement with Chinese manufacturer Huasun Energy to become the exclusive European distributor of ultra-high bifaciality solar modules for vertical photovoltaic systems.
Pivot Energy has secured a $200mn tax credit purchase commitment to finance 40 community solar projects across eight U.S. states.
Pivot Energy has secured a $200mn tax credit purchase commitment to finance 40 community solar projects across eight U.S. states.
LONGi will supply its Hi-MO 9 solar modules to ENGIE for large-scale projects in the MENA region, marking a new phase in industrial adoption of back contact technology.
LONGi will supply its Hi-MO 9 solar modules to ENGIE for large-scale projects in the MENA region, marking a new phase in industrial adoption of back contact technology.
Hydro-Québec launches a 300 MW call for interest to initiate an investment plan targeting 3,000 MW of solar by 2035, marking a new strategic direction for the state-owned utility.
Hydro-Québec launches a 300 MW call for interest to initiate an investment plan targeting 3,000 MW of solar by 2035, marking a new strategic direction for the state-owned utility.
The Quebec government announces a new solar energy initiative, partially addressing a proposal submitted by the opposition in 2024.
EDP Renewables North America strengthens its presence in the Central Valley with a new solar and storage project, bringing its California portfolio to over 1.1 GW.
EDP Renewables North America strengthens its presence in the Central Valley with a new solar and storage project, bringing its California portfolio to over 1.1 GW.
Cypress Creek Renewables secured $150mn in financing to begin construction of a 104MW solar park in Washington State, with commissioning expected by mid-2026.
Cypress Creek Renewables secured $150mn in financing to begin construction of a 104MW solar park in Washington State, with commissioning expected by mid-2026.
SkyFire Energy achieves 10 MW of installed solar capacity in partnership with Jayman BUILT and launches a new donation cycle to associations, including Discovery House in Calgary.
SkyFire Energy achieves 10 MW of installed solar capacity in partnership with Jayman BUILT and launches a new donation cycle to associations, including Discovery House in Calgary.
Two solar plants developed in Michigan by DESRI and Ranger Power enter construction phase after securing financing from a banking consortium.
The US announcement of tariffs exceeding 3,500% on Southeast Asian solar panels is pushing manufacturers to shift focus toward high-potential regional markets.
The US announcement of tariffs exceeding 3,500% on Southeast Asian solar panels is pushing manufacturers to shift focus toward high-potential regional markets.
Swift Current Energy’s Double Black Diamond project is now operational, becoming the largest solar facility in the region with 800 MW capacity and a supply contract including the City of Chicago.
Swift Current Energy’s Double Black Diamond project is now operational, becoming the largest solar facility in the region with 800 MW capacity and a supply contract including the City of Chicago.
Panasonic has permanently ended its residential solar and storage activities, while continuing to publicly promote these technologies, raising questions about the coherence of its strategy.
Panasonic has permanently ended its residential solar and storage activities, while continuing to publicly promote these technologies, raising questions about the coherence of its strategy.
Croatian ENNA Solar acquires an 87.5 MW solar project in Romania from Kraftfeld Energy and plans to start construction in the third quarter of 2025.
Qatar inaugurated two photovoltaic plants totalling 875 MW, doubling its solar capacity and strengthening its energy goals for 2030.
Qatar inaugurated two photovoltaic plants totalling 875 MW, doubling its solar capacity and strengthening its energy goals for 2030.
Solaria has signed a ten-year Power Purchase Agreement with Trafigura for 1 TWh of solar energy from the Cifuentes-Trillo photovoltaic complex in Spain.
Solaria has signed a ten-year Power Purchase Agreement with Trafigura for 1 TWh of solar energy from the Cifuentes-Trillo photovoltaic complex in Spain.
Axpo and EDF Renewables Hellas have signed a short-term power purchase agreement for the output of two solar plants in Greece, with a total capacity of 102 megawatts.
Axpo and EDF Renewables Hellas have signed a short-term power purchase agreement for the output of two solar plants in Greece, with a total capacity of 102 megawatts.
TotalEnergies ENEOS has launched its largest rooftop solar project in Vietnam to supply Samsung Electronics HCMC CE Complex operations in Ho Chi Minh City.
The US solar industry is expected to add 502 GWdc of capacity to the market by 2035. However, political uncertainty could jeopardize these projections, putting future investments at risk.
The US solar industry is expected to add 502 GWdc of capacity to the market by 2035. However, political uncertainty could jeopardize these projections, putting future investments at risk.
The UK government has introduced an amendment aimed at preventing its public company from buying components linked to forced labour, which could impact the supply of Chinese solar panels.
The UK government has introduced an amendment aimed at preventing its public company from buying components linked to forced labour, which could impact the supply of Chinese solar panels.
CATL introduced several innovative batteries for electric vehicles, including the Naxtra, the first series-produced sodium-ion battery, and the Freevoy, marking the entry into the era of multiple power sources.
CATL introduced several innovative batteries for electric vehicles, including the Naxtra, the first series-produced sodium-ion battery, and the Freevoy, marking the entry into the era of multiple power sources.
After a one-year interruption, the Noor Ouarzazate III solar plant, with a capacity of 150 MW, has been brought back into operation by the Masen group. This event highlights Morocco's ambitions in renewable energy and energy transition.
Algeria explores a partnership with Chinese giant LONGi to launch local solar panel production. This initiative is part of the country's energy diversification strategy.
Algeria explores a partnership with Chinese giant LONGi to launch local solar panel production. This initiative is part of the country's energy diversification strategy.
The United States plans to impose heavy tariffs on solar panels from four Asian countries, citing transnational subsidies supported by China.
The United States plans to impose heavy tariffs on solar panels from four Asian countries, citing transnational subsidies supported by China.
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.

Advertising