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- Subscription Commencement in 2nd Issue of Islamic Ijara Murabaha Sukuk through Bahrain Bourse
- Bahrain All Share Index, Islamic Index close lower
- Almarai ranks as the fourth most valuable dairy brand globally for third consecutive year
- Restructuring Moves SABIC to Reclaim Ground in the Petrochemicals Race
- Kuwait's Merged Warba-Gulf Bank Can Grow for 10 years without Capital Hike
- Stocks slip during trading as investors await key Fed speech
- Qatar Stock Exchange sees profit-taking after strong rally
- Masdar achieves record portfolio growth in 2024
- Blackline Safety lands big Adnoc order for gas detectors, beacons
- UAE's GCAA issues new airport crisis management regulation
22/08/2025 02:26 AST
Saudi utility giant ACWA Power has commenced commercial operations at three solar power plants in Saudi Arabia, with a combined capacity of 2.79 gigawatts, the company said in statements to Tadawul.
ACWA Power said it received an initial commercial operation certificate for the Al Kahfah solar Independent Power Plant project in the Hail region, which has a capacity of 1,425 megawatts.
The company added that it also received the commercial operations certificate for 1,000 MW at the Al-Rass 2 solar PV plant in Qassim.
ACWA Power also obtained the second commercial operation certificate for the remaining 365.7 MW capacity in the SAAD 2 PV project in Riyadh, bringing its total operating capacity to 1,125 MW.
These developments align with Saudi Arabia's goals to generate clean energy, primarily using solar power.
The Kingdom plans to generate 58.7 GW of renewable energy by 2030, with 40 GW from solar PV. It also plans to generate 16 GW from wind energy and 2.7 GW from concentrated solar power.
This commitment is part of the broader National Renewable Energy Program strategy, aimed at diversifying Saudi Arabia's energy portfolio and reducing reliance on fossil fuels.
ACWA Power said the impact of these projects is expected to be reflected in the company's financial performance in the second half of this year.
The firm owns a 50.1 percent stake in the Al-Kahfah, Ar Rass 2, and SAAD 2 solar projects.
In July, a consortium led by ACWA Power signed agreements worth SR31 billion ($8.3 billion) to develop seven major solar and wind energy projects with a combined capacity of 15,000 MW in the Kingdom.
Five of the new projects are photovoltaic solar initiatives, including the Bisha Project in the Asir region and the Humaij Project in Madinah, each with a capacity of 3,000 MW.
The Khulis Project in Makkah will generate 2,000 MW, while the Afif 1 and Afif 2 projects located in the Riyadh region will add another 4,000 MW combined.
In addition, two wind energy projects will be developed in Riyadh, which include the 2000 MW Starah Project and the 1,000 MW Shaqra Project.
Arab News
29/07/2025
Acwa Power, the world's largest private water desalination company, leader in energy transition and first mover into green hydrogen, has announced the successful completion of its SAR7.13 billion ($1
Trade Arabia
21/07/2025
Acwa Power has signed key project agreements with the Government of Senegal for the Grande-Côte seawater desalination project.
The project, powered by renewable energy, is set to secure up
Trade Arabia
14/07/2025
A Saudi consortium led by ACWA Power has signed agreements worth SR31 billion ($8.3 billion) to develop seven major solar and wind energy projects with a combined capacity of 15,000 megawatts, the Sa
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TAQA | 3.32 | -0.02 (-0.60 |
| DEWA | 2.75 | -0.02 (-0.73 |
| SAUDIELECTRICITY | 14.64 | 0.14 (0.96 |
| EMPOWER | 1.72 | -0.02 (-1.15 |
| MARAFIQ | 40.80 | 0.96 (2.40 |
22/08/2025
For the third consecutive year, Almarai has been recognized as the fourth most valuable dairy company worldwide for 2025 by Brand Finance, the industry leader in brand valuation.
This rankin
Saudi Gazette
22/08/2025
The global petrochemicals industry is grappling with a wave of uncertainty. Sluggish economic growth in key markets, mounting geopolitical tensions, and trade barriers are weighing on demand. Adding
Asharq Al Awsat
22/08/2025
The new Islamic banking entity resulting from the merger of Kuwait's Warba Bank and Gulf Bank will be able to grow for about ten years without raising capital, Warba's chief executive said.
Asharq Al Awsat
22/08/2025
Blackline Safety Corp, a global leader in connected safety technology, today (August 21) announced that the Abu Dhabi National Oil Company (Adnoc) has placed its first purchase order under a multi-ye
Trade Arabia
22/08/2025
Abu Dhabi National Energy Company (Taqa), one of the largest listed integrated utilities in Europe, the Middle East and Africa, on Thursday announced it has secured an Dh8.5 billion corporate term lo
Khaleej Times
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