Saudi Arabia Powers Ahead with Massive Renewable Energy Projects

The Saudi Power Procurement Company (SPPC) has awarded five substantial renewable energy projects, amounting to a total capacity of 4.5 gigawatts and investments surpassing 9 billion riyals ($2.40 billion). UAE-based Masdar, TotalEnergies, and French utility EDF are among the key players involved.

The Saudi Power Procurement Company (SPPC) announced on Monday the allocation of five major renewable energy projects with a combined capacity of 4.5 gigawatts. This initiative represents an investment exceeding 9 billion riyals ($2.40 billion), according to reports from the Saudi Press Agency (SPA).

The strategic projects were awarded to top global energy firms, including the UAE's Masdar, French conglomerate TotalEnergies, and the renowned French utility company EDF, among others.

This significant move underscores Saudi Arabia's ambition to advance its renewable energy landscape and foster international collaboration in meeting its energy diversification goals.

(With inputs from agencies.)