These projects fall under Round 5 of the National Renewable Energy Program (NREP), which aims to achieve an optimal energy mix by 2030.

The Saudi Power Procurement Company (SPPC) confirmed the agreements under the NREP fifth round.

Acwa Power aims to close 2024 with 1.3GW of renewable capacity in China.

The project is a key part of the Kingdom’s National Renewable Energy Program (NREP) under Round 5.

The project is part of Oman’s broader strategy to diversify its energy sources, reduce reliance on fossil fuels, and meet its ambitious net-zero target by 2050.

The initiative seeks to enhance electricity supply stability, reduce costs, and encourage investment in renewable energy, positioning Arab countries as key global exporters of clean energy.