Renewables major ACWA Power said the commercial operation has begun at Al Shuaiba 2 solar PV Independent Power Plant (IPP), located 80 km south of Jeddah in Makkah Province.

The project company, Shuaibah Holding Company, was granted the commercial operation certificate by Saudi Power Procurement Company (SPPC) for the three phases totaling 2,060 megawatts (MW), ACWA Power said in a statement to the Saudi stock exchange on Thursday.

ACWA Power owns a 35.01 percent stake in the project company. The project will be jointly owned by Badeel, a wholly owned company by the Public Investment Fund (PIF).

The total cost of Al Shuaibah 1 and 2 is $2.4 billion (SAR 9 billion), according to the ACWA Power website.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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