The Saudi Arabian solar energy market is poised for significant expansion, with projections indicating growth from 10.25 gigawatts (GW) in 2025 to 13.47 GW in 2026, and ultimately reaching an estimated 52.72 GW by 2031. This progress is fueled by the country’s increasing demand for renewable energy in line with Vision 2030, aiming to shift from hydrocarbons to clean energy sources. The streamlined Renewable Energy Project Development Office (REPDO) tender process has been a pivotal driver, reducing risks and costs, thus attracting global investment. Moreover, initiatives like local-content thresholds and integration of battery storage highlight efforts to meet climate goals and boost domestic manufacturing. While challenges such as outdated transmission grids persist, advancements in Solar PV installations with competitive pricing continue to solidify the sector’s potential within Saudi Arabia’s broader energy transition strategy.

• ACWA Power last closed at SAR173.00 down 1.1%, hovering around its 52-week low.

In other trading, Ming Yang Smart Energy Group was trading firmly up 10% and ending the day at CN¥19.68, at its 52-week high. At the same time, Harbin Electric lagged, down 4.4% to end trading at HK$19.01.

ACWA Power’s growth hinges on navigating high leverage and construction risks effectively. Discover the full narrative to understand this opportunity in detail.

• Tesla finished trading at $431.44 up 2.9%.

• Equinor settled at NOK253.30 up 0.9%.

• Chevron ended the day at $166.73 up 0.9%, near its 52-week high.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Sources:

• Simply Wall St

• “Saudi Arabia Solar Energy Market Trends and Growth Forecast, 2026-2031 – Record-Low Tariff Auctions and Local Content Rules Enhance Solar Investment in Saudi Arabia” from Research and Markets on GlobeNewswire (published 20 January 2026)