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Saudi PIF-owned ACWA Power proposes to develop 2.3 GW solar plants | |
| Staff Writer |
Saudi Arabia’s Public Investment Fund has recently decided to develop two solar power projects with a combined capacity of 2,300 MW, MEED reported.
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This proposal includes the 2,000 MW Shuaibah 2 solar photovoltaic and the 300 MW Rabigh 2 solar photovoltaic projects.
Overseen by the PIF, the proposals are currently under the review of the Saudi Water and Electricity Regulatory Authority, MEED.
The sovereign fund is responsible for achieving 70 percent of the national renewable energy target, with a capacity of 27.3 GW by 2024 and 58.7 GW by 2030.
The Energy Ministry is taking steps to achieve all its targets through public tendering, according to MEED.