RIYADH: Saudi utility firm ACWA Power has signed power purchase agreements with the Water and Electricity Holding Co. to develop the biggest solar plant of its kind in the Middle East, with capacity to power 350,000 homes. The 2,060 MW solar photovoltaic plant will be built in Al Shuaibah, Makkah province and is expected to begin commercial operations by the fourth quarter of
RIYADH: Saudi Arabia’s benchmark index gained ground on Wednesday, with 148 of the 219 listed companies closing higher as investors came in droves to kick-start a bull run. The Tadawul All Share Index added 142 points to close at 10,896.91, while the parallel market Nomu soared 473 points to finish at 18,866. The total trading turnover closed at SR8 billion ($2.13 billion), an
RIYADH: ACWA Power Co. has completed its Shuaibah 3 IWP Project with an investment cost of $821 million. The project is a joint venture between ACWA Power Co. and Water and Electricity Holding Co., with ACWA Power holding a 68 percent equity stake, according to a bourse filing. The project includes construction, erection, installation, completion, testing, commissioning,