A Saudi-led consortium (ACWA Power, Badeel, SAPCO) signed SR31 billion agreements to build 15 GW of solar (12 GW) and wind (3 GW), with financial close by Q3 2025.
Five solar plants (Bisha, Humaij, Khulis, Afif 1/2) and two wind farms (Starah, Shaqra) across Asir, Madinah, Makkah, Riyadh—operations expected between 2027 and 2028.
The deal boosts Saudi’s renewable capacity toward its 2030 target of 50% clean power (up to 130 GW) and supports net-zero ambitions by 2060.
Offering some of the lowest LCOEs globally, the project strengthens domestic energy security, green hydrogen plans, investor confidence, and positions Saudi as a clean-energy leader.