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Six bid for 3.7GW of Saudi solar IPPs

22 August 2024

 

Riyadh-headquartered principal buyer Saudi Power Procurement Company (SPPC) has received six proposals from companies for the contracts to develop and operate four solar photovoltaic (PV) independent power producer (IPP) projects in Saudi Arabia.

The projects, which have a total combined capacity of 3,700MW, are being tendered under the fifth procurement round of the kingdom's National Renewable Energy Programme (NREP).

According to industry sources, the companies that submitted bids for the contracts on 12 August are:

  • EDF Renewables (France) / Etihad Water & Electricity (EWE, UAE) / SPIC Huanghe Hydropower Development (China)
  • Masdar (UAE) / Nesma Renewable Energy (local) / Korea Electric Power Corporation (Kepco, South Korea)
  • Jinko Power (Hong Kong) / Saudi Electricity Company (SEC, local)
  • Aljomaih Energy & Water (Jenwa, local) /  Total Energies Renewables (France)
  • Engie / Kahrabel (France/ UAE)
  • Alfanar Company (local)

The following solar PV projects and their capacities make up round five of the NREP:

  • Al-Sadawi solar IPP (Eastern Province): 2,000MW
  • Al-Mas solar IPP (Hail): 1,000MW
  • Al-Hinakiyah 2 solar IPP (Medina): 400MW
  • Rabigh 2 solar IPP (Mecca): 300MW

Saudi utility developer Acwa Power was not among the 23 companies that were prequalified to bid for the fifth round of NREP projects.

US/India-based Synergy Consulting is providing financial advisory services to SPPC for the NREP fifth-round tender. Germany's Fichtner Consulting is providing technical consultancy services.

The round five solar PV IPPs take the total capacity of publicly tendered renewable energy projects in Saudi Arabia to over 10,300MW. Solar PV IPPs account for 79%, or about 8,100MW, of the total capacity.

Four wind IPPs, one of which has yet to be awarded, account for the remaining capacity.

SPPC is procuring 30% of the kingdom's target renewable energy by 2030. Saudi sovereign wealth vehicle the Public Investment Fund is procuring the rest through the Price Discovery Scheme. The PIF has appointed Acwa Power, which it partly owns, as principal partner for these projects.

The Saudi Energy Ministry recently said that the kingdom plans to procure 20,000MW of renewable energy capacity annually, starting this year and until 2030.

https://image.digitalinsightresearch.in/uploads/NewsArticle/12386864/main5235.jpg
Jennifer Aguinaldo

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