Saudi Power Procurement Company Reveals Shortlisted Consortiums For Major Solar Projects In Fifth Phase

The Saudi Power Procurement Company, acting as the Principal Buyer, has revealed the shortlisted consortiums for four solar projects under the fifth phase of the National Renewable Energy Program. This initiative is overseen by the Ministry of Energy. The total investment for these projects is estimated at SAR 8 billion ($2.13 billion).

In February, a Request for Proposals (RFP) was issued for projects with a combined capacity of 3,700 megawatts. These include the Al-Sadawi Solar Photovoltaic (PV) Project with 2,000 megawatts, Al-Masa’a Solar PV Project with 1,000 megawatts, Al-Henakiyah 2 Solar PV Project with 400 megawatts, and Rabigh 2 Solar PV Project with 300 megawatts.

The National Renewable Energy Program aims to boost renewable energy's share to about 50% in Saudi Arabia's electricity production by 2030. The Principal Buyer plays a key role by conducting preliminary studies for renewable energy initiatives and facilitating competitive offers for these projects.

By August, six bids were received for each project. These bids underwent thorough evaluation to ensure they met all technical and commercial standards. Successful companies will enter into a 25-year Power Purchase Agreement (PPA) with the Principal Buyer under a build-own-operate model.

The Rabigh 2 project is situated in Rabigh Industrial City, managed by the Saudi Authority for Industrial Cities and Technology Zones, known as "MODON." This location is part of the strategic planning to enhance industrial growth through sustainable energy solutions.

To date, over 19 gigawatts of renewable energy projects have been awarded in Saudi Arabia. This reflects significant progress towards achieving the Kingdom's ambitious renewable energy targets.

The public can access more details about these projects on the program's official website: www.powersaudiarabia.com.sa.

With inputs from SPA