PIF - NREP: Independent Power Plant (IPP): Bisha Solar IPP 3000MW
Public Investment Fund (PIF) is planning to undertake the construction of a new solar photovoltaic plant with a capacity of 3000MW in Bisha, located in Asir Province, Saudi Arabia.
The project is part of Saudi Arabiaâs National Renewable Energy Programme (NREP) and it represents a significant milestone in the country's strategic vision for a more resilient and more sustainable energy landscape.
Saudi Power Procurement Company (SPPC) is the Principal Buyer and energy off-taker for the project.
The US$1660 million project includes the following:
1. Construction of a solar power plant (3000MW)
2. Installation of solar panels
3. Installation of transformers
4. Laying of transmission lines
5. Construction of associated facilities
Second Section
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13 February 2026
Sineng Electric Co Ltd has been appointed as PV inverter supply contractor for the project. (Source: MEED)
09 February 2026
GameChange Solar LLC has been appointed as genius tracker 1P system supply contractor for the project.
29 January 2026
Nextpower Arabia has signed an agreement to supply 2.25 gigawatts peak (GWp) of solar tracking systems for the project. (Source: MEED)
30 November 2025
The project has achieved financial closure with a consortium of local, regional, and international banks, including Ajman Bank, Al Masraf, Alinma Bank, Arab National Bank, China Construction Bank, China Minsheng Bank, Emirates NBD, Eurobank, First Abu Dhabi Bank, HSBC, Industrial and Commercial Bank of China, KfW Development Bank, Mizuho, Piraeus Bank, Saudi Awwal Bank, Saudi National Bank, Standard Chartered Bank, and Sumitomo Mitsui Trust Bank worth US$4.5 billion.
02 November 2025
The client has signed a financial agreement for development of the project.
07 August 2025
Larsen & Toubro has been appointed as the main contractor on the project.
15 July 2025
Saudi Power Procurement Company (SPPC) has signed the power purchase agreement (PPA) with a consortium led by main developer ACWA Power, in partnership with Water and Electricity Holding Company (Badeel), a wholly owned company of PIF, and Saudi Aramco Power Company (SAPCO), a wholly owned subsidiary of Aramco.