Seven new large-scale solar and wind energy projects are expected to add 15 GW to Saudi Arabia's electricity grid by 2027. Scheduled to begin operations between late 2025 and early 2027, the projects represent a combined investment of US$8,3 billion and reinforce Saudi Arabia's goal of reaching 70% of its renewable capacity by the end of the decade.
The projects are part of the NREP (National Renewable Energy Program), led by the Saudi Ministry of Energy and supported by the PIF (Public Investment Fund), which has assets estimated at US$1 trillion. The PIF's goal is to deliver 70% of the country's new renewable capacity by 2030—a target aligned with the Saudi government's strategic vision for the energy transition.
All projects are expected to reach financial close in the third quarter of 2025. The seven projects, all co-owned by Badeel, ACWA Power and SAPCO, include 12 GW of solar power plants and 3 GW of wind farms.
Strong sun and renewable ambition
Saudi Arabia's climate—marked by long periods of intense sunshine and vast desert areas—favors the widespread adoption of solar energy.
Despite the potential, the country ended 2024 with only 4,34 GW of installed solar capacity, according to data from Energy InstituteWith the new investments, Saudi Arabia is moving forward towards its goal of reaching 130 GW of renewable capacity by 2030.
Carbon neutrality vs. oil dependence
At COP26 in Glasgow, Crown Prince Mohammed bin Salman announced Saudi Arabia's ambition to achieve carbon neutrality by 2060. Despite its strong ties to oil production, the country has sought to balance its energy strategy.
To achieve this, the goal is to attract international capital and relax environmental regulations to accelerate investments in clean energy. Currently, the Middle East is the second region accelerating its investments in renewable energy, behind only China.
Besides Saudi Arabia, the United Arab Emirates is also moving forward on this path. In January, Masdar—a state-owned company specializing in clean energy—announced a $6 billion package to install 5 GW of solar power and 19 GWh of battery storage.
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