The Kingdom of Saudi Arabia has recently taken an important step in the field of renewable energy. On July 14, 2025 local time, in the presence of Prince Abdulaziz bin Salman, Minister of Energy of the Kingdom of Saudi Arabia, Saudi International Power and Water Company, Saudi Public Investment Fund's wholly-owned hydroelectric holding company, and Saudi Aramco Power Company, a wholly-owned subsidiary of Saudi Aramco, jointly announced that they have signed seven renewable energy project power purchase agreements with Saudi Electricity Procurement Company.

These 7 new energy projects have a total installed capacity of 15GW and are expected to be put into commercial operation from the second half of 2027 to the first half of 2028. The project financing delivery plan is scheduled to be completed in the third quarter of 2025. The total investment for this contracted project is approximately 8.3 billion US dollars (equivalent to 57.3 billion yuan), jointly invested and developed by Saudi International Power and Water Company, Hydroelectric Holdings Company, and Saudi Aramco Power Company.

The project includes 5 large-scale solar photovoltaic power stations and 2 large-scale wind power stations, with a photovoltaic installed capacity of 12GW and a wind power installed capacity of 3GW. These projects are an important part of Saudi Arabia's National Renewable Energy Plan, led and supervised by the Ministry of Energy of the Kingdom of Saudi Arabia, aimed at supporting the Saudi Public Investment Fund to achieve the goal of 70% renewable energy generation by 2030.

Specific project information shows that five photovoltaic power plants are located in different regions of the Kingdom of Saudi Arabia: Bisha project in Asir province with an installed capacity of 3GW, Humaij project in Medina province with an installed capacity of 3GW, Khulis project in Mecca province with an installed capacity of 2GW, and Afif 1 and Afif 2 projects in Riyadh province with an installed capacity of 2GW each. Wind power projects include Starah project (2GW) and Shaqra project (1GW) in Riyadh province.

Saudi Electricity Procurement Company stated that these projects have achieved globally competitive power generation costs through efficient financing and development models, as well as increasing confidence in the investment environment in Saudi Arabia. As the officially designated power purchaser in Saudi Arabia, the company is responsible for preparing feasibility study reports, organizing project bidding, and signing power purchase agreements with developers.

These projects will significantly enhance Saudi Arabia's renewable energy capacity, drive local supply chain development, create employment opportunities, and provide support for achieving Saudi Arabia's economic diversification goals in Vision 2030, "said Marco Arcelli, CEO of Saudi International Power and Water Company.

As of now, the total installed capacity of renewable energy projects jointly invested by Saudi International Power and Water Company, Hydroelectric Holding Company, and Saudi Aramco Power Company has reached 28.6GW, with a total investment of over 17 billion US dollars. With the addition of new projects, Saudi International Power and Water Company has a total of 21 renewable energy projects in Saudi Arabia, with a total installed capacity of over 34GW. Its global renewable energy installed capacity has reached 51.9GW.

The implementation of this series of projects marks significant progress for the Kingdom of Saudi Arabia on its energy transition path, not only helping to achieve national emission reduction targets, but also setting a new benchmark for global renewable energy development. (This article is from the official website of Jian Dao www.seetao.com. Reproduction without permission is prohibited, otherwise it will be prosecuted. Please indicate Jian Dao website+original link when reprinting.) Jian Dao website new energy column editor/Yang Beihua