The Ajlan & Bros Holding (ABH), a private sector enterprise in the Middle East and North African region has formed a joint venture with SolarEdge Technologies, involved in the development of smart energy technologies. The joint venture company will be formed in Riyadh, and will provide companies in the country with energy production, storage, and management solutions as well as site modelling and consulting for the energy transition. Furthermore, ABH will own the majority of shares in the joint venture.
In December 2022, the Acwa Power and the Water and Electricity Holding Company agreed to construct, own, and operate a 2.06 GW solar photovoltaic (PV) plant in the Makkah province of Saudi Arabia. The Al Shuaibah II project, which is situated in Al Shuaibah, will be jointly owned by Badeel, a fully owned subsidiary of the nation’s Public Investment Fund, and ACWA Power. The facility will be the sixth solar energy one for ACWA Power in Saudi Arabia.
In September 2022, Saudi Power Procurement Company issued a tender for the deployment of 3.3 GW of the renewable energy capacity. The Saudi government planned to construct two solar parks with a combined capacity of 1.5 GW and two wind power facilities with a combined capacity of 1.8 GW.