ACWA Power won the tender for the 91 MW Layla PV Solar Independent Power Project in Saudi Arabia, after submitting the lowest bid of 11.2 halala per kilowatt hour. Layla PV IPP is part of the third round of KSA’s National Renewable Energy Program (NREP), led by the Ministry of Energy. The power purchase agreement has been signed between Layla Solar Energy Company, the project company and affiliate of ACWA Power, and the Saudi Power Procurement Company, the principal offtaker.
The project is estimated at USD106.9 million (SAR401million), with ACWA Power owning 40.1% of the facility. It is expected to be fully operational by 2024.