TotalEnergies in partnership with Aljomaih Energy & Water Company (AEW) has secured the Rabigh 2 solar project in Saudi Arabia, with a capacity of 300 MW.
Consortium Signs 25-Year PPA Supporting Saudi Vision 2030
The consortium finalised a 25-year PPA with the Saudi Power Procurement Company (SPPC) during French President Emmanuel Macron's 2024 visit to the Kingdom, supporting Saudi Vision 2030's renewable energy objectives. The Rabigh 2 solar project is included in Round 5 of the National Renewable Energy Programme, which is overseen by the Ministry of Energy.
“We are proud to lead the development of the 300MW Rabigh 2 solar project, together with TotalEnergies, highlighting our shared commitment towards supporting 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.” said Ibrahim Al Jomaih, AEW chairman of the board of directors.
Solar Project Targets 50% Renewable Energy by 2030
The initiative seeks to establish a balanced energy mix for electricity generation by 2030, with gas and renewable energy each accounting for 50%. The consortium will develop, construct, own and operate the solar project, aiming for grid connection by 2026.
“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. This new project is another example of our multi-energy strategy to accompany oil and gas-producing countries in their energy transition. This also demonstrates our ability to provide more energy with less emissions, while contributing to our electricity and renewable energy growth.” said Patrick Pouyanné, TotalEnergies chairman and CEO.
TotalEnergies Expands Renewable Energy in the Middle East
TotalEnergies is reaching a new milestone in Saudi Arabia with this solar project. The company is also building the 119MW Wadi Al Dawasir solar plant, slated to begin operations in early 2025. These initiatives highlight TotalEnergies’ dedication to growing its renewable energy presence in the region.
Additionally, TotalEnergies has joined forces with QatarEnergy to develop a 1.25 GW (peak) solar project in Iraq, thereby ensuring a strong partnership in advancing renewable energy. QatarEnergy will own a 50% stake in the solar project, with TotalEnergies holding the other half. The agreement is awaiting regulatory approval.