Saudi Arabia Backs Solar Energy Development in Syria with New Agreements
Source: Economy Middle East
The story in brief
Saudi Arabia is supporting solar energy development in Syria through new agreements for renewable power projects. Under the supervision of the Saudi Ministry of Energy, Mohammed Ahmed Al-Harfi Company and the Syrian Electricity Company signed three Power Purchase Agreements (PPAs) in the Syrian capital. Two technical cooperation agreements were also signed between Mohammed Ahmed Al-Harfi Company, Saudi Electricity Project Development Company (PDC), and Germany’s Siemens Energy. These agreements will facilitate the development of three solar energy projects with a combined capacity of 760 MW, supported by 1,077 MWh battery energy storage systems, offering electricity at competitive tariffs starting at 3 U.S. cents per kWh.
Detailed summary
Saudi Arabia is supporting solar energy development in Syria through a series of new agreements aimed at advancing renewable power projects in the country. Under the supervision of the Saudi Ministry of Energy, three Power Purchase Agreements (PPAs) were recently signed in the Syrian capital between Saudi Arabia’s Mohammed Ahmed Al-Harfi Company and the Syrian Electricity Company. Two technical cooperation agreements were also signed between Mohammed Ahmed Al-Harfi Company and each of Saudi Electricity Project Development Company (PDC) and Germany’s Siemens Energy.
The agreements form part of Al-Harfi Company’s development of three solar energy projects in the Widyan Al-Rabie area of Rif Dimashq. These projects are key renewable energy initiatives in the Syrian Arab Republic, with a combined capacity of 760 MW, supported by battery energy storage systems with a total storage capacity of 1,077 MWh. The Power Purchase Agreements have terms ranging from 20 to 25 years and provide electricity at competitive tariffs starting at 3 U.S. cents per kilowatt-hour (kWh).
The first technical cooperation agreement, signed between Mohammed Ahmed Al-Harfi Company and Saudi Electricity Project Development Company (PDC), covers the provision of specialized engineering and advisory services to support the management and implementation of Al-Harfi Company’s projects. The second agreement, signed with Siemens Energy, covers technical cooperation and the transfer of technical expertise in the fields of main substations, power generation, and energy storage systems. Together, the two agreements aim to ensure that the projects are implemented in accordance with the highest technical standards.
These agreements contribute to strengthening integration and cooperation among all parties and with Syria. Earlier this year, the Saudi Electricity Project Development Company signed a framework agreement with Syria to provide technical and engineering services for energy projects. Siemens Energy also signed a memorandum of understanding with the Syrian Ministry of Energy to build a control and operation system for Syria’s electricity grid. The signing of these agreements reflects the Kingdom of Saudi Arabia’s approach to strengthening bilateral cooperation and deepening economic and fraternal partnership with Syria through supporting energy infrastructure projects and contributing to the achievement of sustainable development goals in Syria.
Background & context
This story sits within Saudi Arabia's broader reform agenda and efforts to grow Energy & Renewables as a pillar of non-oil GDP. The region benefits from supportive energy prices, expansionary government budgets, and rising interest from sovereign wealth funds and foreign investors.
Key numbers & facts
- No specific figures were provided in the available source. See the original publisher for detailed numbers.
Key points
- Saudi Arabia is supporting solar energy development in Syria through new agreements for renewable power projects.
- Under the supervision of the Saudi Ministry of Energy, Mohammed Ahmed Al-Harfi Company and the Syrian Electricity Company signed three Power Purchase Agreements (PPAs) in the Syrian capital.
- Two technical cooperation agreements were also signed between Mohammed Ahmed Al-Harfi Company, Saudi Electricity Project Development Company (PDC), and Germany’s Siemens Energy.
- These agreements will facilitate the development of three solar energy projects with a combined capacity of 760 MW, supported by 1,077 MWh battery energy storage systems, offering electricity at competitive tariffs starting at 3 U.S. cents per kWh.
Why this matters
This matters because activity in Energy & Renewables shapes capital flows, hiring and investor sentiment across Saudi Arabia.
Economic & market impact
Potential impact: - Renewables developers and utilities may see project-pipeline impact.
GCC angle
For the rest of the GCC, this is a signal on the pace of activity in Energy & Renewables. Capital flows and regulatory decisions in one Gulf state typically travel across borders given the similar economic structures and the coordination inside the GCC framework.
Risks & uncertainty
There is uncertainty around the read-through: projections can be moved by swings in oil prices, by US monetary policy tightening that most GCC central banks track via dollar pegs, and by regional geopolitical events. Headline numbers may also be revised when subsequent official data is published.
What happens next?
Watch for upcoming disclosures from listed names in Energy & Renewables, official macro releases for Saudi Arabia, and any commentary from regulators or sovereign wealth funds. Tharwa will refresh this briefing as new public information becomes available.
Sources used
This is an original Tharwa briefing based on the available source material. Read the full article from the publisher.