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Soudah Development, a Public Investment Fund (PIF) company chaired by HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, has signed a landmark agreement worth over SAR 1.3 billion with National Grid, a subsidiary of the Saudi Electricity Company, to deliver advanced power infrastructure for the Soudah Peaks project.
The agreement marks a major milestone in the development of Soudah Peaks, an ultra-luxury mountain destination located 3,015 meters above sea level. Under the contract, National Grid will design and construct a fully integrated electrical network, including a 380/132 kV central substation with 500 MVA capacity and two 132/13.8 kV high-voltage substations, ensuring reliable power across all development phases.
Eng. Saleh Al-Oraini, CEO of Soudah Development, stated that the partnership secures the infrastructure foundation needed to power the destination’s full-scale development across tourism, hospitality, wellness, retail, and residential sectors.
Eng. Waleed Al-Saadi, CEO of National Grid, highlighted that the project reflects the company’s commitment to supporting major national developments through resilient and sustainable energy infrastructure aligned with Saudi Vision 2030.
The agreement strengthens Saudi Arabia’s push toward luxury tourism, economic diversification, and infrastructure excellence under Vision 2030.
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