On the occasion of the visit of the President of the French Republic Emmanuel Macron to the Kingdom of Saudi Arabia, and in the presence of His Royal Highness Prince Abdulaziz bin Salman Al Saud, Saudi Minister of Energy, The consortium comprising TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Saudi developer Aljomaih Energy and Water Company (AEW) has signed a 25-year Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC) related to the 300 MW solar power project, Rabigh 2.
This project is part of Round 5 of the National Renewable Energy Program (NREP) which is supervised by the Ministry of Energy aiming to achieve an optimal energy mix for electricity production by having gas and renewable energy at approximately 50% each by 2030 and reduce dependence on liquid fuels in electricity generation in line with Saudi Vision 2030. The solar plant will be developed, built, owned and operated by the consortium with a connection to the grid planned in 2026.
This renewable project is a new milestone for TotalEnergies in Saudi Arabia where TotalEnergies is currently building the 119 MW Wadi Al Dawasir solar power plant, which will start operation in early 2025.
On the occasion of the visit of the President of the French Republic Emmanuel Macron to the Kingdom of Saudi Arabia, and in the presence of His Royal Highness Prince Abdulaziz bin Salman Al Saud, Saudi Minister of Energy, The consortium comprising TotalEnergies and Saudi developer Aljomaih Energy and Water Company (AEW) has signed a 25-year Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC) related to the 300 MW solar power project, Rabigh 2.
This project is part of Round 5 of the National Renewable Energy Program (NREP) which is supervised by the Ministry of Energy aiming to achieve an optimal energy mix for electricity production by having gas and renewable energy at approximately 50% each by 2030 and reduce dependence on liquid fuels in electricity generation in line with Saudi Vision 2030. The solar plant will be developed, built, owned and operated by the consortium with a connection to the grid planned in 2026.
This renewable project is a new milestone for TotalEnergies in Saudi Arabia where TotalEnergies is currently building the 119 MW Wadi Al Dawasir solar power plant, which will start operation in early 2025.
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The consortium signed a 25-year power purchase agreement (PPA) with the Saudi Power Procurement Company (SPPC) during the 2024 visit of French President Emmanuel Macron to the Kingdom. This project aligns with Saudi Vision 2030’s renewable energy goals.
AEW chairman of the board of directors Ibrahim Al Jomaih stated: “We are proud to lead the development of the 300MW Rabigh 2 solar project, together with TotalEnergies, highlighting our shared commitment towards supporting the Saudi Arabia’s Green Initiative and Vision 2030.
"Leveraging our local market expertise and global reach, our mission is to play our role in advancing the energy transition underscored by our philosophy of partnership and excellence, and we would like to take this opportunity to thank the SPPC for their continued support and trust in Aljomaih Energy & Water."
TotalEnergies chairman and CEO Patrick Pouyanné stated: "Together with our partner Aljomaih Energy and Water Company, we are thrilled to contribute to Saudi Arabia’s target of increasing the share of renewables in its energy mix. Through our large participation in refining and petrochemical Satorp and Amiral projects, TotalEnergies is a close partner of the Kingdom of Saudi Arabia.
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