The Saudi Power Procurement Company (SPPC), a government-owned entity, has signed SAR 31 billion (~$8.3 billion) power agreements. These agreements cover seven renewable projects under the Ministry of Energy’s National Renewable Energy Program. Each project is part of a consortium led by ACWA Power, with Badeel and Aramco Power as partners. The five solar projects included in the agreements are in Aseer, Madinah, Makkah and Riyadh, totaling 12 GW. The remaining two projects are wind-based, both in Riyadh, with a combined capacity of 3 GW. All projects offer levelized energy costs between 1.25959 and 2.05712 US cents per kWh. SPPC noted this agreement marked the largest global capacity signed in a single phase. It handled studies, tenders and contracts for the projects. SPPC has launched 43.23 GW of renewable capacity in which 10.2 GW is already grid-connected and is expected to reach 20 GW by end-2026.Previously, Danantara, ACWA Powerand Pertamina had signed a $10 billion agreement in Indonesia for an integrated energy project.