ACWA Power consortium reaches financial close for Red Sea Utilities project
Power is planned to be generated for the Red Sea Utilities project from 400MW photovoltaic (PV) solar and wind energy, with 1.3GWh of battery storage included. (Image source: Adobe Stock)
A consortium led by local developer ACWA Power has reached financial close for the US$1.33bn Red Sea Utilities project, which will be 100% powered by renewable energy and the largest battery energy storage system in the world