ACWA Power And AlGihaz Achieve Financial Closure For Sakaka PV IPP

ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants, and AlGihaz Holding Company, a major Saudi contractor and investor, acting as a consortium announced the successful financial closure of the c. SAR 1.2 billion Sakaka PV IPP, the first ever utility scale renewable energy project to be developed in the Kingdom of Saudi Arabia under the landmark National Renewable Energy Program executed by REPDO (Renewable Energy Project Development Office).

A new company “Sakaka Solar Energy Company (SSEC)” has been formed with ACWA Power holding 70% and AlGihaz 30% through its subsidiary AlGihaz Renewable Energy Company to own the Sakaka PV Plant. Read more