“Soudah Development” and “National Grid” Sign SAR 1.3 Billion Agreement to Power Soudah Peaks

Soudah Development, a Public Investment Fund (PIF) company, chaired by HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, has signed a landmark agreement with National Grid, a Subsidiary of the Saudi Electricity Company, valued at more than SAR 1.3 billion, to develop and deliver advanced power infrastructure for the Soudah Peaks.

This strategic partnership marks a critical milestone in the development of Soudah Peaks, an ultra-luxury mountain destination rising 3,015 meters above sea level, and underscores Soudah Development’s commitment to excellence and unparalleled experiences in tourism, hospitality, wellness, retail, and ultra-luxury residential and others.

Under this agreement, "National Grid" will design and construct the integrated electrical network that includes a 380/132 kV central substation with a capacity of 500 MVA, as well as two 132/13.8 kV high-voltage substations. This robust infrastructure will form the backbone of the utility ecosystem across all zones of the project, ensuring reliable power delivery to hospitality, residential, commercial, and public assets, for all development phases.

Eng. Saleh AlOraini, CEO of Soudah Development, stated: "This agreement marks a defining step forward in the journey to develop Soudah Peaks, a world-class destination that exemplifies ultra-luxury, excellence, and sustainability. Through our partnership with National Grid SA, we are securing the infrastructure foundation needed to power all of Soudah Peaks development phases." By securing future-ready infrastructure, this partnership not only ensures the operational success of Soudah Peaks but also underscores the shared vision of both organizations to drive economic diversification and support the Kingdom's sustainability ambitions.

Eng. Waleed Al-Saadi, CEO of the National Grid SA, stated: “This agreement represents a pivotal milestone in developing the electrical infrastructure for the Soudah Peaks project. It reflects our firm commitment to supporting major development initiatives in the Kingdom through integrated solutions built on the highest standards of efficiency and reliability.” He added: "Our partnership with Soudah Development underscores our central role in enabling luxury tourism destinations and the Kingdom’s growing economic landscape. By establishing an advanced electrical network tailored to meet the project’s needs across all phases, we reaffirm National Grid SA’s continued efforts to enhance the readiness and resilience of the power system in alignment with sustainability goals and Saudi Vision 2030. "