ACWA Power Company announces the signing of a power purchase agreement of the largest PV Solar Plant in MENA region Al Shuaibah Two PV Solar Energy Plant-, located in Makkah, with a production capacity of 2060MW. The PPA has been signed between Shuaibah Two Electrical Energy Company (Project company owned by ACWA Power) and Saudi Power Procurement Company (SPPC). Contract Value is USD 1.75 Billion.

Contract Details Development, financing, build, own and operation of 2060 MW of the Shuaibah Two PV Solar Energy Plant. Contract Duration is 35 years. Financial Impact and the Relevant Period is the financial impact of the contracted revenues is expected to materialize after the Commercial Operation Date (PCOD) by Fourth Quarter 2025.