ACWA Power inaugurates KSA’s first utility-scale renewable energy project

The 300MW PV plant exemplifies the role of PPPs in enabling socio-economic progress in KSA, achieving nearly 100% job localisation.
ACWA Power, one of the leading Saudi developer, investor, and operator of power generation and water desalination plants recently announced the official inauguration of the 300 MW Sakaka PV IPP, KSA’s first utility-scale renewable energy project at an investment value of 1.2 billion Saudi riyals.
The ceremony was held under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense and in the presence of His Royal Highness Prince Abdulaziz Bin Salman Bin Abdulaziz Al Saud, Saudi Minister of Energy, and Prince Faisal bin Nawaf bin Abdulaziz, Governor of Al-Jouf Region, and senior government officials and representatives from the KSA Ministry of Energy, Al Jouf region, and ACWA Power.
His Royal Highness Prince Abdulaziz Bin Salman Bin Abdulaziz Al Saud, Saudi Minister of Energy, said “The private sector plays a fundamental role in the development of renewable energy projects in the Kingdom. The Sakaka project we are inaugurating today was developed by ACWA Power together with various Saudi companies that have worked alongside ACWA Power to make this remarkable achievement a reality. ACWA Power is the leading national company in this field, and it is considered a state-owned company and is sponsored by the state because ACWA Power has proven to be a distinct company worthy of the government’s ownership. Consequently, the Public Investment Fund currently has 50 percent ownership of ACWA Power, which as my brother Mohammad mentioned, spans thirteen countries around the world. One of its most important projects is Sakaka PV, which as my brother Mohamed also stated, that 97% of the operating team are Saudis, and 90% of the workforce is from Al Jouf region.”

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