ACWA Power secures 300 MW solar project in Saudi Arabia

ACWA Power has received a contract from the Renewable Energy Project Development Office for the 300 MW Sakaka solar project in Saudi Arabia. ACWA Power has signed a PPA with the Saudi Power Procurement Company at a tariff of SAR 8.78 per kWh ($2.34 per unit). The project is likely to achieve financial closure by end-February 2018 and start commercial operations in 2019.

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