Saudi Arabia has shortlisted several bidders for the next stage of its National Renewable Energy Programme (NREP), focusing on four solar projects with a combined capacity of 3.7 GW. The competitive bidding has yielded the lowest bid of $12.92 per megawatt-hour (MWh).
This fifth round includes the 2-GW Sadawi project in the Eastern Province, the 1-GW Al Masa’a Solar PV Independent Power Project (IPP) in Hail Province, the 400-MW Al Henakiyah Solar PV IPP in Madinah, and the 300-MW Rabigh 2 Solar project in Makkah.
The Saudi Power Procurement Company (SPPC) announced that a consortium led by Abu Dhabi’s Masdar, Korea Electric Power Corp, and GD Power Development is among the qualified developers for this round.
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Additionally, an alliance of SPIC Huanghe Hydropower Development Co and EDF Renouvelables, along with Al Jomaih Energy and Water Co, in partnership with TotalEnergies Renewables, are also in contention.
The Masdar-led consortium submitted the lowest bid of $12.92 per MWh specifically for the Al-Sadawi project. Masdar and Korea Electric Power Corp have teamed up with Nesma Company rather than GD Power Development for two of the projects.
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This competitive bidding reflects Saudi Arabia’s commitment to expanding its renewable energy sector, aligning with its goals to diversify energy sources and reduce reliance on fossil fuels.
The outcome of this round is aniticipated to play a crucial role in the country’s renewable energy landscape.