Saudi Arabia’s energy ministry announced on Monday that the government had awarded Ar Rass and Saad renewable energy projects with a total capacity of 1,000 megawatts.
All project-related agreements, including Power Purchase Agreements (PPAs) with the winning consortia, were signed by the Saudi Power Procurement Company (SPPC), the major buyer.
The first PPA was inked with Ar Rass Solar Energy Company for the 700-MW Ar Rass Solar PV IPP. The project is worth SA$1.7 billion (US$453 million) and is located in the Qassim region of Saudi Arabia.
