CEEC Secures Contracts for Renewable Energy Projects in Saudi Arabia Valued at RMB 19.554 Billion

A consortium, comprising China Energy International Group Co., Ltd., China Energy Engineering Group Guangdong Power Engineering Co., Ltd., and China Energy Engineering Group Northwest China Electric Power Test Research Institute Co., Ltd., has signed EPC contracts for three major renewable energy projects in Saudi Arabia. The contracts were finalized with a project company formed by ACWA Power, Saudi Arabia’s Public Investment Fund (Saudi PIF), and Saudi Aramco Power Company (SAPCO). The projects include Phase V Shakira 1GW Wind Power Project, Phase V Stella 2GW Wind Power Project, and Phase VI Furais 2GW Photovoltaic Project of Saudi PIF. The total contract value amounts to approximately USD 2.745 billion, equivalent to RMB 19.554 billion, bringing CEEC’s total contracted value in Saudi Arabia to over RMB 80 billion.

The Shakira 1GW and Stella 2GW Wind Power Projects are located approximately 140 km northwest and 200 km south of Riyadh, Riyadh Province, Central Saudi Arabia, respectively. Both projects include full-scope EPC services (design, procurement, manufacturing, installation, construction, and commissioning) and are scheduled for completion in 26 and 30 months, respectively. Once operational, they will form the largest onshore wind cluster globally.

The Furais 2GW Photovoltaic Project, located 85 km north of Jeddah, Makkah Province, Western Saudi Arabia, will also be delivered under a full EPC model with a 26-month construction timeline.

Collectively, the three projects are expected to generate approximately 569.286 billion kWh of electricity over their first 25 years of operation and reduce CO2 emissions by around 560 million metric tons.