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Sudair plant kicks off operations on third phase: Acwa Power received the commercial operation certificate to begin operating the third and final phase of its 1.5 GW Sudair solar project from the Saudi Power Procurement Company (SPPC), according to a Tadawul filing. This phase adds 25% of the total project, achieving its full operating capacity. The company expects the impact to be reflected in its 1Q financial statements.
REMEMBER- This has been in the works: Acwa Power began commercial operations of 75% of the Sudair project in November after receiving the commercial operation certificate from SPPC and expected the impact of the 1.125 GW in operation to be reflected in its 4Q financial statements.
About Sudair: The project is set to become one of the largest single-contracted solar PV plants globally and the largest of its kind in the kingdom. It is the first project under the PIF’s renewable energy program, and has recorded the second-lowest cost globally for solar PV electricity production at USD 1.239 cents/kwh. Once fully operational, the renewable energy program aims to deliver 70% of the kingdom’s renewable energy goals, according to Acwa Power. Acwa Power and Water and Electricity Holding Company (Badeel) each hold a 35% stake in Sudair, and an Aramco subsidiary owns the remaining 30%.
Acwa has more in the bag: The company plans to officially start its largest China operations this quarter, building on previous purchases from China of products worth USD 30 mn in the energy, water, and green hydrogen sectors.
