Financial close for 15 GW: Saudi Arabia’s ACWA Power has successfully achieved financial close for 15 GW of solar PV and wind energy projects in the country. It is developing these projects in collaboration with the Water Electricity Holding Company (Badeel) and Saudi Aramco Power Company (SAPCO). The 5 solar PV projects comprise the 3 GW Bisha project in Asir province, the 3 GW Humaji project in Madinah province, the 2 GW Khulis project in Makkah province, the 2 GW Afif1 and 2 GW Afif2 projects in Riyadh province, along with the 2 GW Starah and 1 GW Shaqra wind energy projects in Riyadh province. To be built for $8.2 billion, these 7 facilities are scheduled to come online in H2 2027 and H1 2028. Senior debt financing of $5.9 billion for Bisha, Humaji, Khulis, Afif1 and Afif2, and Starah and Shaqra projects came from a consortium of local, regional, and international banks, including Eurobank, Commercial Bank of China Limited, and Natixis, among others. This follows ACWA Power announcing a $10 billion financing for its global renewable energy and storage projects, including 12 GW of solar PV in October 2025 (see ACWA Power Signs $10 Billion Global Financing Agreements For RE).
Arctech expands Saudi Arabia portfolio: China-headquartered solar tracker manufacturer Arctech has landed a 1.2 GW tracker deal for the PIF6 PV Project in Saudi Arabia. Awarded by China Energy International Engineering, the deal is for the 1.2 GW Faris PV Project. Arctech will supply its advanced SkyLine II tracking system, which it says can withstand extreme wind loads to ensure safety and stability. Arctech recently completed Phase II of its Jeddah manufacturing facility, expanding the factory’s annual production capacity to 15 GW. It also operates factories in China and India.
RE and storage investment in Yemen: Global South Utilities (GSU) has announced plans to invest in developing $1 billion energy portfolio in Yemen. This includes solar, wind, and battery energy storage systems (BESS), as well as grid development. It says this portfolio will support the larger economy in Yemen, reduce production costs, and provide stable electricity to hospitals, schools, industrial sectors, and to run essential services in the country.
119 MW online in Saudi Arabia: France-based TotalEnergies has commissioned its maiden renewable energy project in Saudi Arabia. The 119 MW solar PV plant includes Japan’s Toyota Tsusho and Saudi Arabia’s Altaaqa Renewable Energy (Zahid Group) as partners. Located in Wadi Ad-Dawasir, the project is built by PowerChina subsidiary SEPCO, and is part of Round 3 of the National Renewable Energy Program (NREP). It is contracted to sell electricity to the Saudi Power Procurement Company (SPPC).
Solar-powered avocado plant in Kenya: The Netherlands-based AAAS Energy, focused on Sub-Saharan Africa, has raised €150,000 from 97 investors for a solar-powered avocado processing plant in Kenya. It raised the proceeds through the crowdfunding platform, bettervest. The money will be used to build a solar-powered plant to process Hass avocados in Rumuruti, Kenya. The location also has cooling and storage capacities, sorting and packaging facilities, and an extraction and refining plant for avocado oil. With the 200 kW PV system to be installed on the rooftop, the project is expected to help save up to 256 tons of carbon emissions annually and cover the entire energy demand of the plant.
France backs solar projects in Mauritania: The Ministry of Energy and Petroleum in Mauritania has signed a concessional loan agreement for €39.2 million with France for 10 solar and storage projects. Under the agreement signed, Mauritania will use the loan to finance the construction of 10 solar PV projects equipped with storage systems. It says this is part of the government’s efforts to expand access to basic services, particularly electricity, create jobs, and reduce social disparities.
Candi Solar raises IFC financing: Candi Solar has secured $58.5 million in syndicated debt financing, led by the World Bank Group’s International Finance Corporation (IFC). It plans to use the proceeds to deliver clean, affordable solar solutions in South Africa and India, directly financing nearly 200 MW of new projects. It will help Candi Solar’s clients drive down operational costs and advance sustainability, it added. This is the company’s largest funding facility to date and follows $24 million it raised earlier this year (see Middle East & Africa Solar PV News Snippets).
CrossBoundary Energy Raises New Debt: CrossBoundary Energy has secured an additional $200 million in senior debt to expand its renewable energy portfolio across Africa. The second-tranche financing, arranged by Standard Bank of South Africa Limited (SBSA) and supported by several other lenders, will help build new clean energy projects serving mining, industrial, and telecom customers across the continent. Projects currently under construction include Kamoa-Kakula Solar PV/BESS Baseload Project in the DRC, which will provide 30 MW of baseload power to Kamoa Copper S.A., Africa’s largest copper mine.