ACWA Power Consortium and the Saudi Power Procurement Company (SPPC) have signed a 25-year Power Purchase Agreement with a total investment value of US$450 Million for the development/construction/operation of a PV Power Plant Project. SPPC acts as the sole off-taker.
The project will be located in Saudi Arabia Qassim province near Ar Rass city and will be developed as a ‘Build, Own, Operate’ project. ACWA Power will take the lead in the construction, engineering, operation and maintenance of the different plants delivering power to the national grid.
Worth noting, the energy will be generated using bi-facial modules with tracking technology, the plant is set to deliver highly efficient performance and be capable of powering 132,000 homes, while offsetting nearly 1.5 million tons of emissions per year.