75% of KSA’s 1.5 GW Sudair solar project is now operational: Another 25% of Acwa Power’s 1.5 GW Sudair solar PV in Saudi Arabia has begun commercial operations after the Saudi Power Procurement Company (SPPC) granted Acwa Power an Initial Commercial Operation certificate for the second phase of the project, according to a disclosure to Tadawul. The approval comes less than a month after Acwa Power started operating the first phase of the Sudair plant, which represented 50% of the total capacity. The company expects the impact of the 1.125 GW currently in operation to be reflected in its 4Q financial statements. No details on the timeline of the last phase were mentioned in the disclosure.

About Sudair: The project is set to become one of the largest single-contracted solar PV plants globally and the largest of its kind in Saudi Arabia. It is the first project under the Saudi sovereign wealth fund’s renewable energy program, and has recorded the second-lowest cost globally for solar PV electricity production at USD 1.239 cents/kwh. Once fully operational, the renewable energy program aims to deliver 70% of the kingdom’s renewable energy goals, according to Acwa Power. Acwa Power and Water and Electricity Holding Company (Badeel) each hold a 35% stake in Sudair, and an Aramco subsidiary owns the remaining 30%.

ALSO- Acwa intends to launch large projects in China in 1Q 2024: Acwa power is planning to officially kick start its largest China operations next quarter, building on previous purchases from China of products worth USD 30 mn in the energy, water, and green hydrogen sectors, Vice Chairman and Managing Director of the Saudi company Raad Al-Saadi told CNN Business Arabic.