The Saudi National Development Fund (SNDF) on Sunday disclosed plans to allocate 1.7 billion Saudi riyals (around $427 million) for the kingdom’s largest solar venture. The Al Shuaibah solar project, valued at 8.3 billion riyals, is anticipated to generate 2.6 gigawatts of electricity. This ambitious undertaking is a collaboration between the state-run oil behemoth Aramco, Water and Electricity Holding Company (Badeel), and ACWA Power, a dominant Saudi power generation developer and operator. According to SNDF’s statement, the initiative is set to be fully operational by 2025. Upon completion, the solar plant is forecasted to supply renewable energy to over 450,000 homes.
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