RIYADH: Two power plants in Saudi Arabia are a step closer to coming online after ACWA Power signed a SR14.6 billion ($3.9 billion) energy purchasing deal with Saudi Power Procurement Co. The agreement covers the combined cycle gas turbine plants in Taiba and Qassim, each boasting a production capacity of 1,800 megawatts. A statement on Tadawul revealed that each contract holds a validity period of 25 years. The financial impact of the operation is anticipated to be realized after the first half of 2027. The power purchase agreement is the latest deal signed by ACWA Power as the company boosts its output facilities. Earlier in November, the Dubai Electricity and Water Authority inked a 30-year water purchase agreement with the firm to develop the first phase of the seawater reverse osmosis plant at Hassyan. The completion of this initial phase is expected to boost DEWA’s water desalination capacity to 670 million imperial gallons per day by 2027, up from the current 490 MIGD, as stated in a press release. In August, DEWA announced ACWA Power as the preferred bidder for the first phase of the project, with a 3.35 billion dirhams ($914 million) investment. Meanwhile, SPPC has announced two major solar photovoltaic projects with a total capacity to power 265,000 homes annually. In a post on X, formerly known as Twitter, the company declared that it had finalized a deal for the Tabarjal solar PV independent power plant, which boasts a capacity of 400 MW. This project is a collaborative venture involving a consortium of leading energy firms, which include China’s Jinko Power, Sun-Glare, and New York-based Sunlight Energy Group. The competitive levelized cost of energy bid submitted for the Tabarjal project stands at 6.40482 halalas (1.68420 cents) per kilowatt-hour. The project will also power 75,000 residential units annually, with an agreement duration of 25 years. Additionally, SPPC has inked an agreement for the Al-Henakiyah solar PV project, which will generate 1,100 MW. This initiative will supply power to around 190,000 residential units annually, with an agreement duration of 25 years.