Panda and HAALA Energy Sign a Landmark Agreement to Build a 3 MWp Rooftop Solar Project at Panda’s Western Region Distribution Center

KAEC, Saudi Arabia – November – Panda Retail Company, Saudi Arabia’s leading retail chain, and Haala Energy, the leading rooftop solar installer in the Kingdom, have signed a 15-year Solar Power Purchasing Agreement (PPA) to install one of the largest rooftop solar project in the western region. This milestone agreement highlights the private sector’s crucial role in achieving the ambitious climate targets set under Vision 2030.

The solar PV system, to be installed at Panda’s Western Distribution Center in King Abdullah Economic City (KAEC), will have a capacity of 3 MWp, covering 16,200 square meters. It is expected to generate 5,324 MWh of clean energy annually, significantly reducing the distribution center’s carbon footprint by 3,024,000 kg CO2e per year. This project marks Panda’s first major venture into renewable energy and serves as the initial phase of a broader strategy to position the company as a leader in renewable energy adoption across the Kingdom and the wider region within the next three years.
The initiative has already received preliminary approval from the Saudi Energy Regulatory Authority (SERA) under the Regulatory Framework for Renewable Energy Generation for Self-Consumption and is set to be commissioned in Q1 2025.

Dr. Bander Hamooh, CEO of Panda Retail Company, stated: "Our 15-year partnership with Hala Energy for the installation of solar energy systems marks a significant step towards supporting the sustainability goals of Saudi Arabia’s Vision 2030. By adopting solar energy, we contribute to reducing our carbon footprint, lowering energy costs, and enhancing operational efficiency. In doing so, we play a role in building a brighter and more sustainable future for generations to come."

Faris Al-Sulayman, Executive Director of Haala Energy, added: “We are beyond excited to partner with Panda on this landmark project, which is set to be one of the largest rooftop solar installations in the Western region. Both teams have worked hard over the past year to identify the best sites to begin this rollout, and the distribution center at KAEC will hopefully mark the beginning of a long and fruitful partnership between Panda and Haala”.

About Haala Energy
Founded at KAUST in 2017, Haala Energy has quickly established itself as a leader in rooftop solar installations across Saudi Arabia, building a diverse portfolio of hybrid and on-grid projects for industrial and commercial clients across the country. Haala plans to deploy a further 30 MWp of rooftop projects by 2027 as it builds the largest portfolio of rooftop projects in the Kingdom.