Saudi Arabian energy company ACWA Power has formally entered into a 30-year power purchase agreement (PPA) with the Saudi Power Procurement Company (SPPC) for a 91 MW solar power plant it will develop in the country.
The company won the rights to develop this project under round 3 of the National Renewable Energy Program (NREP) of the Ministry of Energy. It had offered SAR 0.112 per kWh to claim the project (see Saudi Arabia NREP Round 3 Shortlisted Bidders).
The Layla PV Solar IPP project will be located in Al-Aflaj governorate in Riyadh province of Saudi Arabia. ACWA Power expects an investment of SAR 401 million to realize the project which it will develop and construct. The company will be 40.1% project owner. It is expected to come online in Q1/2024.
SPPC is also the principal buyer for ACWA Power's 700 MW Ar Rass solar project that the latter expects to bring online in Q4/2022 (see PPA For 700 MW Saudi Solar Facility).