SEC subsidiary, ACWA Power to build 300 MW solar plant

Saudi Arabia’s Minister of Energy Khalid Al-Falih on Monday said a subsidiary of Tadawul-listed Saudi Electricity Co. and energy producer ACWA Power have signed a project to provide 300 megawatt of solar power, state news agency SPA reported.

The project is the first of its kind under the National Transformation Project, Al-Falih said at the International Geological Conference in Jeddah.

The minister also announced plans for a wind power project that will boost the Kingdom’s position in the field of renewable energy.

Saudi Arabia’s Renewable Energy Project Development Office (REPDO) in January had shortlisted ACWA Power and a consortium led by Japanese conglomerate Marubeni Corporation to develop a 300 megawatt (MW) solar project in Sakaka, Al Jouf, data compiled by Argaam showed.