Water and Electricity Holding Company (Badeel)

() /16 20/03/1430 17/03/2009 . 70 2030. 2023 (4) 4.4 2.024 9 . The Water and Electricity Holding Company (Badeel) was established by the Royal Decree number M/16, dated 20/03/1430 AH (corresponding to 17/03/2009 AD), as a Closed Joint Stock Company owned by the Public Investment Fund (PIF) to invest and manage all water, electricity and renewable energy projects owned or co-owned by PIF. Badeel develops, invests and co-owns 70% of the renewable energy target capacity that PIF is mandated to develop in Saudi Arabia by 2030 as a part of the National Renewable Energy Program (NREP). As of 2023, Badeel has four (4) assets under management in operation, generating 4.4 GW of power and producing 2.024 million m3/day of desalinated water. The company is also developing and executing several renewable energy projects with a generation capacity of more than 9 GW