French multi-energy conglomerate TotalEnergies SE is engaged in discussions with Saudi Arabia's ACWA Power Co to bolster its involvement in renewable energy ventures within the Kingdom, CEO Patrick Pouyanne revealed in an interview with Al-Sharq TV.
Renewable energy, particularly solar power, is gaining traction in Saudi Arabia, with ACWA Power securing funding earlier this year for the development of three large-scale projects boasting a combined capacity of 4.55 GW. Meanwhile, TotalEnergies has been identified as one of the qualified contenders for four solar projects with a total capacity of 3.7 GW in the country's fifth round of renewable energy tenders.
Pouyanne outlined TotalEnergies' strategy in the Middle East, which includes investments in both natural gas and renewable energy projects, mirroring its endeavors in Oman and Iraq.
In southern Iraq, TotalEnergies is currently constructing a 1-GW solar park, with Pouyanne confirming that the project is progressing as planned. Set to commence operations in 2025, construction on the solar plant commenced in the summer of 2023.
This solar project is part of four contracts inked between TotalEnergies and the Iraqi Ministry of Oil, encompassing gas, oil, renewable energy, and seawater desalination facilities in the Basra governorate.
