Saudi Arabia lines up solar projects for 3.7 GW

RIYADH, October 22, 2024 – The Saudi Power Procurement Company (SPCC) has selected the shortlisted bidders for the fifth round of solar projects under the Ministry of Energy’s National Renewable Energy Program (NREP), the SPCC announced on Monday.

The request for proposals issued in February 2024 by the SPCC covered four projects with a combined total generation capacity of 3.7GW: the 2-GW Al Sadawi Solar PV IPP, the 1-GW Al Masa’a Solar PV IPP, the 400-MW Al Henakiyah2 Solar PV IPP, and the 300-MW Rabigh2 Solar PV IPP.

Out of the six bids received for each project, the consortiums qualified to proceed to the next bidding round include the participation of Saudi Arabia’s Masdar, France’s TotalEnergies Renewables and EDF Renouvables, and the Korea Electric Power Corporation.

Each project will be developed on a build-own-operate basis by the selected project company and will sell electricity to the SPCC under a 25-year power purchase agreement. According to SPCC, the projects will attract total investments of more than USD 2.13 billion.

As part of the NREP, Saudi Arabia is seeking to increase the share of renewables in its energy mix to 50% by 2030. To date, the SPCC has awarded more than 19 GW of renewable energy capacity under the program.

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