ACWA Power Spearheads Saudi Arabia's Green Revolution with Multi-Billion Dollar Renewable Energy and Green Hydrogen Investments
Key Insights
Emerge and Misk City signed a 20-year power purchase agreement for a 621-kilowatt peak rooftop solar PV plant in Riyadh, marking a significant step towards sustainable urban development.
The project aims to substantially reduce Misk City's carbon dioxide emissions and support its pursuit of LEED certification, positioning it as a leading green urban community in the region.
This partnership underscores Misk City's commitment to Saudi Arabia's Vision 2030 by integrating clean energy into its infrastructure as the world's first nonprofit city.
Emerge will manage the entire project lifecycle, from design and financing to operations and maintenance, providing clean electricity without upfront investment for Misk City.
Emerge and Misk City have finalized a 20-year solar energy agreement, establishing a 621-kilowatt peak (kWp) rooftop photovoltaic (PV) plant in Riyadh. This long-term power purchase agreement (PPA) signifies a strategic advancement in sustainable urban development within Saudi Arabia, aligning with the Kingdom's ambitious Vision 2030. The project, located on a carport structure within Misk City, is poised to significantly reduce the city’s operational carbon footprint and contribute to its LEED certification aspirations, setting a new benchmark for green urban communities in the Middle East.
The agreement, formalized in Riyadh with attendance from Misk City CEO David Henry and representatives from Emerge and the French Embassy, underscores a shared commitment to decarbonization. Misk City, conceptualized as the world's inaugural nonprofit city, is designed as a pioneering hub for education, digital media, culture, and arts, emphasizing a human-centered approach to urban living. Its integration of clean energy infrastructure, as highlighted by Henry, is central to its vision as a sustainable community.
Emerge, a specialist in solar PV, battery storage, and hybrid energy solutions established in 2021, will oversee the comprehensive development and delivery of the project. This includes engineering, design, financing, construction, operations, and maintenance. Omar AlDaweesh of Emerge emphasized the partnership's role in accelerating clean energy adoption across Saudi Arabia, while Ali Alshimmari of Masdar reinforced Emerge's dedication to providing tailored energy solutions that eliminate upfront investment for clients.
The 621 kWp installation is projected to yield substantial COâ‚‚ emission reductions, directly supporting Misk City's environmental objectives. By leveraging Saudi Arabia's abundant solar resource, this initiative not only powers Misk City's future but also serves as a tangible example of sustainable urban transformation within the region. This collaboration exemplifies how strategic partnerships can drive large-scale clean energy deployment, fostering economic diversification and environmental stewardship in line with national development goals.