The inauguration of Sakaka PV IPP marks a pivotal moment in the continued energy diversification and development plans of Saudi Arabia.

The project was awarded to an ACWA Power-led consortium at a world record tariff, at the time, of 8.781 halalas/kWh in 2018, which has paved the way for subsequent projects of the National Renewable Energy Program (NREP) to lower the cost of clean solar electricity in the Kingdom.

Al Gihaz Holding, a major Saudi contractor and investor, owns a 30% stake in the Sakaka Solar Energy Company (SSEC), alongside ACWA Power’s 70% stake, and was instrumental in both the investment, engineering, procurement, and construction of the project.

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