This is not only a record breaking investment, but also a clearer revelation of Saudi Arabia's energy strategic ambition to surpass "oil substitution" and aim to reprice future industries

Saudi Arabia has once again firmly locked the attention of the global energy industry in a remarkable way. This time, it is not relying on oil, but through an unprecedented clean energy investment feast, demonstrating a strong determination to reshape the future energy landscape.

According to overseas institution Renewables Now, ACWA Power has successfully secured financing totaling 22.34 billion Saudi riyals (approximately 5.95 billion US dollars) for the development of a total of 15GW of clean energy projects, covering two wind power and five photovoltaic power plants. This is not a simple green transformation, it is backed by Saudi Arabia's clear strategic logic: oil is not being abandoned, but rather to extend the "life cycle" of the entire oil empire through new energy and accumulate stronger momentum for the future.

1、 Project Overview: Concentration of "Saudi Speed" and "Gulf Style"

Two wind power projects (totaling 3GW) are located in Riyadh Province, namely the 2GW Starah wind farm and the 1GW Shaqra wind farm, with a financing amount of 5.44 billion Saudi riyals. As early as July this year, ACWA Power had locked in long-term power purchase agreements (PPAs) with Saudi Power Procurement Company (SPPC) for these seven projects, covering the four administrative regions of Medina, Mecca, Asir, and Riyadh. The production schedule is highly characteristic of Saudi Arabia - all projects will be launched from the second half of 2027 to the first half of 2028. Compared to the lengthy feasibility study, approval, environmental impact assessment, and grid coordination processes required for projects in other countries, Saudi Arabia's style appears extremely direct and efficient: "I say it, go ahead; I say it will start production in 2028, go ahead and start production in 2028

The equity structure of the project deeply reflects the "Gulf style": ACWA Power accounts for 35.1%, Badeel, a wholly-owned subsidiary of the Public Investment Fund (PIF), accounts for 34.9%, and Saudi Aramco Power Company accounts for 30%. The strong alliance of national sovereign funds, national oil companies, and national level power developers means lower financing costs, more stable electricity price expectations, and injects full confidence into foreign investment. This is also the underlying logic for ACWA Power to grow into a "super operator" in the Middle East energy sector.

2、 Strategic Depth: Global Planning for Seizing the 'Second Bucket of Gold' in the Future

Saudi Arabia's massive investment is not a momentary impulse. Behind this massive 15GW financing is a profound set of energy and industrial strategies:

Firstly, the wealth accumulated in the oil and gas era is no longer sufficient to support its grand blueprint in the wave of AI and the new cycle of industrialization. Saudi Arabia urgently needs to build a new industrial matrix. The clean energy industry has huge capital expenditures, stable cash flows, and long asset durations, and its characteristics are closest to Saudi Arabia's pursuit of a "second pot of gold" that can support the future.

Secondly, the global energy investment focus is shifting towards regions with abundant resources, vast land, and stable electricity prices. European subsidy policies show signs of fatigue, and the progress of US power grid construction is slow. In contrast, Saudi Arabia has outstanding advantages: excellent lighting resources, vast land, controllable electricity prices, low capital costs, and strong government execution, making it more suitable than Europe and America to build TWh level super energy bases.

Ultimately, Saudi Arabia's ambition is to become a 'global core supplier of green electricity'. Whether it's hydrogen energy, green ammonia, or green metallurgy, they all require low electricity costs as a foundation. By investing heavily in clean energy and continuously lowering marginal electricity prices, Saudi Arabia is not simply pursuing a "carbon reduction" path, but aims to reprice future high-end green industries with highly competitive green electricity and take control of the value chain. Keywords: the Belt and Road, the Belt and Road News, the Belt and Road Project

While other places are still gradually advancing individual projects, Europe is debating subsidies, and the United States is calculating IRA rules, Saudi Arabia has already begun to promote energy projects in batches on a "GW" basis. ACWA Power， It is the core engine that drives this Saudi energy giant to move forward at full speed. This new energy 'lightning war' is not only related to energy itself, but also a profound layout for future industrial dominance and global energy discourse power. Editor/Xu Shengpeng