Snapshot of the agreement signing
ACWA Power Co., Badeel − a company fully owned by the Public Investment Fund − and Saudi Aramco signed today financing agreements for five solar energy projects with a target combined capacity of 12,000 megawatts. 
The projects aim to supply clean electricity to the Saudi Power Procurement Co. (SPPC) under long-term power purchase agreements.
According to PIF, these projects fall under the National Renewable Energy Program, overseen by the Ministry of Energy, and form part of PIF’s commitment to achieve 70% of Saudi Arabia’s renewable energy target by 2030.
The agreements were signed on the sidelines of the ninth edition of the Future Investment Initiative (FII) conference.
Snapshot of the agreement signing
ACWA Power Co., Badeel − a company fully owned by the Public Investment Fund − and Saudi Aramco signed today financing agreements for five solar energy projects with a target combined capacity of 12,000 megawatts.
The projects aim to supply clean electricity to the Saudi Power Procurement Co. (SPPC) under long-term power purchase agreements.
According to PIF, these projects fall under the National Renewable Energy Program, overseen by the Ministry of Energy, and form part of PIF’s commitment to achieve 70% of Saudi Arabia’s renewable energy target by 2030.
The agreements were signed on the sidelines of the ninth edition of the Future Investment Initiative (FII) conference.
