The 300 MW Sakaka IPP photovoltaic (PV) solar project is the first ever utility scale renewable energy project under the National Renewable Energy Program of Saudi Arabia. The Renewable Energy Projects Development Office (REPDO) awarded ACWA Power the contract at a world record-breaking tariff of US Cents 2.3417/kWh (8.781 halalas/kWh). The plant will cover an area of six square kilometeres at Al Jouf. With an investment of US $302 million, this project the first of a series of project under the Saudi national renewable energy programme which aims to produce 9.5GW of renewable energy by 2023.
KEY FACTS
LOCATION
Al Jouf, Saudi Arabia
OFFTAKER
Saudi Power Procurement Company
POWER
300 MW
TECHNOLOGY
PV
PROJECT COST
USD 302 Mn
COD
Q2 2020
ACWA POWER SHARE
70%
OFFTAKE CONTRACT
PPA- BOO - 25 Years
OPERATOR
Diaa Sakaka Operation and Maintenance Company (NOMAC’s affiliate)
OTHER INVESTORS
Al Gihaz: 30%
EPC
A consortium of Mahindra Susten Private Limited & Chint Solar (Zheijang) Company LTD