Saudi Arabia: financing of 7 renewable energy projects with a total capacity of 15 GW for $8.6Bn

ACWA Power, Badeel and Saudi Aramco Power Company announce the financial closing of five solar photovoltaic plants and two wind projects, located in Saudi Arabia with a total capacity of 15 GW, on 27/11/2025. The total financement amounts to $8.6Bn (€7,4Bn).

The seven projects are scheduled to come on stream between the second half of 2027 and the first half of 2028.

The projects are part of Saudi Arabia's National Renewable Energy Program, under the direction of the country's Ministry of Energy, and their output is subject to a purchase agreement with Saudi Power Procurement Company, the Saudi state-owned entity responsible for purchasing electricity from independent power producers.

ACWA Power is a developer, investor and operator of power generation and seawater desalination plants, with an RE portfolio of 51.9 GW. Badeel is an investment company backed by the Saudi Sovereign Wealth Fund, the country's investment arm, with a portfolio of 28.6 GW of supported projects totalling $17bn (€14.6bn).

" The financial closing of these GW-scale solar and wind projects represents a major step…