Acwa Power, a leading developer of power generation and water desalination projects, said its key subsidiary, Layla Solar Energy Company, has signed a power purchase deal for a solar PV plant being set up in Saudi Arabia's Central Region at a total investment of SR401 million ($107 million).The agreement, inked with Saudi Power Procurement Company, is valid for 30 years and will see the development, construction, and operation of a 91MW project at a major site within Al Aflaj governorate of Riyadh, said Acwa Power in its filing to Saudi bourse Tadawul.Earlier, Saudi utility emerged as the preferred bidder for the Layla PV project which was tendered as part of round three of the National Renewable Energy Program by the Ministry of Energy. It had submitted the lowest bid of SR0.112/ kilowatt-hour.Acwa Power said it will have a 40.1% stake in the strategic solar project.The financial impact of the contracted revenues was expected once the project achieved its commercial operating date of Q1 2024, it added.