Turn on more accessible mode
Turn off more accessible mode
Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Awards
BBK awarded for distinguished Corporate Governance practices
Bahrain’s pioneer in commercial and retail banking
BBK wins first place for excellence in Corporate Governance practices
BBK wins Bahrain eContent Award
BBK newsletter
CINET
BBK Press releases
Latest News
Archives
Financial News
Latest News
Archives
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Media Center
Financial News
Archives
Archives
01-12-22
PIF-possessed Badeel, ACWA to establish MENA’s biggest solar plant in nation
(MENAFN) Saudi utility company ACWA Power has inked power purchase deals with the Water and Electricity Holding Co. to improve the largest solar plant of its form in the Middle East, with a volume to generate for 350,000 households.
The 2,060 MW solar photovoltaic plant is going to be established in Al Shuaibah, Makkah district as well as is anticipated to start commercial actions by the October-December period of 2025.
Recognized as Badeel, the Water and Electricity Holding Co., entirely possessed by the Public Investment Fund, is going to mutually possess the venture with ACWA Power, with the two firms owning a 50 percent equity share each.
The venture is going to be completed via an additionally built mutual firm named Shuaibah Two Electrical Energy Co.
Yazeed A. Al-Humied, deputy governor and chief of MENA Investments at PIF, stated that "This marks a key achievement toward PIF’s commitment to develop 70 percent of Saudi Arabia’s renewable energy by 2030.
He continued: “Utilities and renewables is one of PIF’s priority sectors as part of its domestic strategy, which focuses on unlocking the capabilities of promising sectors to enhance Saudi Arabia’s efforts in diversifying revenue sources.”
MENAFN01122022000045014228ID1105252959
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us