TotalEnergies and AEW Sign 25-Year PPA for 300 MW Rabigh 2 Solar Project Under Saudi Vision 2030

During the visit of French President Emmanuel Macron to Saudi Arabia, and in the presence of His Royal Highness Prince Abdulaziz bin Salman Al Saud, Saudi Minister of Energy, a consortium comprising TotalEnergies and Aljomaih Energy and Water Company (AEW) signed a 25-year Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC). The agreement pertains to the 300 MW Rabigh 2 solar power project.

This initiative is part of Round 5 of the National Renewable Energy Program (NREP), overseen by the Ministry of Energy, which aims to achieve an optimal energy mix for electricity generation by 2030. The program seeks to balance gas and renewable energy at approximately 50% each while reducing reliance on liquid fuels, aligning with Saudi Vision 2030. The consortium will develop, build, own, and operate the solar plant, with grid connection expected 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 & Gas producing countries in their energy transition. This also demonstrates our ability to provide more energy with less emissions, while contributing to our growth in electricity and renewable energy”, said Patrick Pouyanné Chairman and CEO of TotalEnergies.

“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 Saudi Power Procurement Company (SPPC) for their continued support and trust in Aljomaih Energy & Water”, said Mr. Ibrahim Al Jomaih, Chairman of the Board of Directors of Aljomaih Energy and Water Company.