Meed | Team to advise next Saudi renewables rounds

Team to advise next Saudi renewables rounds

14 November 2023

Principal buyer, Saudi Power Procurement Company (SPPC), has appointed a transaction advisory team to support the procurement process for the fifth and sixth rounds of the National Renewable Energy Programme (NREP).

It appointed US/India's Synergy Consulting as the financial adviser for the programme's rounds five and six.

UK-headquartered EY and Germany's Fichtner Consulting will provide legal and technical advisory services to SPPC for the two rounds.

SPPC has kicked off the prequalification process for round five, which comprises four solar photovoltaic (PV) independent power producer (IPP) projects with a total combined capacity of 3,700MW.

The following solar IPP projects comprise round five of the NREP:

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

According to a source close to the project, SPPC expects to receive statements of qualifications from renewable energy and utility developers and investors for the fifth round projects by the end of November.

Rounds four and six

MEED understands that round six of the NREP will include wind and battery energy storage systems.

An initial plan to procure a hybrid solar PV and concentrated solar power plant in Hinakiyah does not appear to be part of the latest iteration of the plan.

The bid evaluation process is under way for the three wind IPP projects under round four of the NREP. On 7 November, SPPC signed the power-purchase agreements with the teams that will develop the 1,100MW Hinakiyah solar IPP and the 400MW Tubarjal solar IPP schemes.

SPPC is procuring 30 per cent of the kingdom's target renewable energy installed capacity of 58,700MW by 2030 through a public tendering process.

Saudi sovereign wealth vehicle, the Public Investment Fund, is procuring the rest through the Price Discovery Scheme.

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Jennifer Aguinaldo