Red Sea solar energy storage project bidding

What is Saudi Arabia's Red Sea project?

Saudi Arabia’s Red Sea Project is making headlines with the construction of the world’s largest photovoltaic-energy storage microgrid. Featuring a 400MW solar PV system coupled with a 1.3GWh energy storage system, this ambitious project is set to revolutionize sustainable energy solutions in hospitality.

What is the Neom Red Sea project?

This 1300 MWh off-grid energy storage project is the largest of its kind in the world and represents a milestone in the global energy storage industry. The NEOM Red Sea project has been listed as a key element in Saudi Vision 2030. The developer is ACWA Power, with SEPCOIII fulfilling the rôle of EPC.

Will Huawei fusion solar power Red Sea city's off-grid energy needs?

Huawei’s FusionSolar Smart String Energy Storage Solution will power the Red Sea City’s off-grid, clean energy needs. The Red Sea Project, a key part of SaudiVision2030, is now the world’s largest microgrid with 1.3GWh storage capacity.

What is the Red Sea development project?

A consortium of developers led by ACWA Power has secured financing for the Red Sea project, on the west coast of Saudi Arabia, which is set to feature a 320MW solar array and a 1.3GWh off-grid battery. Upon completion, the Red Sea Development Project will cover an area the size of Belgium. Image: The Red Sea Development Company

Who owns the Red Sea project?

A joint venture in which ACWA holds a 50% stake was appointed by the The Red Sea Development Company entity – owned by Saudi wealth fund the Public Investment Fund (PIF) – to design, build, operate and transfer The Red Sea Project’s utilities infrastructure under a 25-year offtake contract.

How much debt is needed for the Red Sea project?

A consortium of developers has achieved financial close for $1.3 billion in debt funding for utility infrastructure at the Red Sea Project, a massive tourism complex under construction on the coast of Saudi Arabia.