A consortium comprising ACWA Power, Water and Electricity Holding Company, and Saudi Aramco Power Company achieved financial closure of $8.2 billion for seven large-scale renewable energy projects with a cumulative capacity of 15 GW. This capacity comprises 12 GW of solar and 3 GW of wind projects. These projects are expected to be operationalized between the second half of 2027 and the first half of 2028. The Saudi Power Procurement Company will offtake the entire capacity.