In recent days, a consortium formed by China Energy International Group Co., Ltd., CEEC Guangdong Power Engineering Co., and CPECC Northwest Electric Power Design Institute Co., Ltd. signed an EPC contract for the Saudi PIF Phase IV Haden 2GW photovoltaic (PV) project with Saudi Arabia's Buraiq Renewable Energy Company.
The contract amount is approximately $972 million, equivalent to about 6.979 billion RMB.
This marks yet another significant milestone in the strategic collaboration between CEEC and its international investors, following the successful completion of the Shuqaiq 2.6GW PV project and the Rabigh 300MW PV project in Rabigh in Saudi Arabia, furthering the high-quality Belt and Road cooperation.
Situated in the western region of Saudi Arabia, approximately 93 kilometers northeast of Taif City in the Mecca Province, the project boasts a total installed capacity of 2GW, with commercial operations slated to commence in early 2027.
The main project includes the engineering design, equipment procurement, transportation and installation, civil construction, transmission lines, substations, grid debugging, etc.
Once completed, it is projected to generate approximately 156.189 billion kilowatt-hours of electricity over a span of 25 years, resulting in a reduction of nearly 147 million tons of carbon dioxide emissions. This endeavor will play a pivotal role in assisting Saudi Arabia in achieving its ambitious "net-zero emissions" target by 2060.
To drive the transition of Saudi Arabia’s energy structure, Saudi Arabia's Vision 2030 has laid out a plan to increase the share of renewable energy to 50% by 2030, with a particular focus on solar power generation.
In December 2023, the country announced that starting from 2024, they will be tendering 20GW of renewable energy projects annually, aiming to achieve a total installed capacity of 130GW by 2030.
As one of the leading global providers of comprehensive solutions in the power industry and infrastructure investment, CEEC will leverage its full industry chain advantages to continue deepening its presence in the Saudi Arabian market and contribute to Saudi Arabia's green and sustainable development.
At present, the project team has fully mobilized on-site. The consortium of CEEC will demonstrate a strong sense of responsibility and mission, dedicating substantial resources to ensure the project becomes a green showcase, paving the way for a brighter future.
