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

Government

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 SAR 1.3 billion agreement with National Grid, a subsidiary of the Saudi Electricity Company, to build advanced power infrastructure for the Soudah Peaks project.

The strategic partnership marks a major milestone in the development of Soudah Peaks, an ultra-luxury mountain destination located 3,015 metres above sea level. The project forms part of Saudi Arabia’s broader ambitions to elevate tourism, hospitality, wellness, retail, and luxury residential offerings, aligning with national economic diversification and sustainability goals.

Under the agreement, National Grid will design and construct a fully integrated electrical network that includes a 380/132 kV central substation with a 500 MVA capacity, along with two 132/13.8 kV high-voltage substations. This infrastructure will serve as the backbone of Soudah Peaks’ multi-phase development, ensuring reliable and efficient power supply to hospitality assets, residential communities, commercial areas, and public facilities.

Eng. Saleh AlOraini, CEO of Soudah Development, described the agreement as a “defining step forward” in realising the vision for Soudah Peaks. “Through our partnership with National Grid SA, we are securing the infrastructure foundation needed to power all phases of development,” he said, noting that the investment reinforces the project's commitment to excellence, sustainability, and long-term operational success.

Eng. Waleed Al-Saadi, CEO of National Grid SA, said the partnership represents a key milestone in delivering world-class electrical infrastructure for one of the Kingdom’s most ambitious destination projects. “This agreement reflects our commitment to supporting major national developments through efficient and reliable integrated solutions,” he stated. He emphasised that the new electrical network is tailored to meet Soudah Peaks’ future needs and supports broader efforts to enhance system resilience in line with Saudi Vision 2030.

The agreement is expected to play a fundamental role in enabling the growth of Soudah Peaks as one of the region’s most distinctive luxury mountain destinations.