Week in Middle East: Saudi’s 1.47 Gw Tender Received Lowest Bid of $0.0161/kwh Which Has Been Shortlisted, Scatec Solar Secures Guarantees With MIGA in Egypt, Assar, Mashaat discuss cooperation for producing solar energy panels and More

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Saudi’s 1.47 Gw Tender Received Lowest Bid of $0.0161/kwh Which Has Been Shortlisted

Saudi Arabia has announced the shortlisted bidders of the second round of its National Renewable Energy Program (NREP) tender, which includes four solar plants totaling 1.4 GW, in addition to another procurement round for two PV facilities equaling 70 MW. Prospective developers submitted four bids for the first of the two tenders, which was launched in July, the Renewable Energy Project Development Office (REPDO) said. The successful bidders will be awarded 25-year power purchase agreements.

Scatec Solar Secures Guarantees With MIGA in Egypt

Scatec Solar ASA has secured guarantees with MIGA (Multilateral Investment Guarantees), a member of the World Bank Group, covering its equity investments in the six Egyptian solar power plants – also known as the 390 MW BenBan project. The guarantees cover 90 percent of investments by Scatec Solar for up to 15 years against the risks of Transfer Restrictions and Convertibility. “The MIGA guarantees are a cost-efficient way of mitigating risk for our largest project in the portfolio. Strong partnerships are essential to our business and this agreement is further strengthening the robustness of our investment, says Raymond Carlsen, CEO of Scatec Solar.

Saudi Arabia could delay renewable contract award

Riyadh ramped up its clean energy target to 27.3GW by 2024 and 58.7GW by 2030. Riyadh’s measures to contain the spread of the disease caused by coronavirus could delay the award or start of major power and water projects in the kingdom. These include the category B projects under round two of Saudi Arabia’s National Renewable Energy Programme (NREP). Saudi Arabia’s Renewable Energy Project Development Office (Repdo) was expected to open the commercial offers submitted for the category B projects in NREP’s round two by mid-March. MEED reported that the client had intended to announce the preferred bidder or bidders by the end of March.

Public Opening of bids for 1.5 GW of Solar postponed by Abu Dhabi due to COVID -19 outbreak

Due to the pandemic, the planned public opening of the commercial tariffs for the 1.5 GW Al-Dhafra solar project has been postponed, according to a report by Utilities Middle East.This move comes as a part of the precautionary measure taken by the Emirates Water & Electricity Company (EWEC), Abu Dhabi’s state-owned water and electric utility, to curb the spread of deadly COVID-19 virus.

Assar, Mashaat discuss cooperation for producing solar energy panels

Minister of State for Military Production Mohamed Assar and Minister of International Cooperation Rania El Mashaat on Tuesday held a meeting to discuss cooperation between the two ministries in the field of producing solar energy panels in coordination with an international Chinese company. The two sides reviewed the developments in negotiations with the Chinese side for setting up an industrial complex in implementation of directives by President Abdel Fattah El Sisi to diversify sources of energy and increase the output of renewable energy. The two ministers confirmed their keenness on resuming negotiations with the Chinese side to enhance cooperation between the two countries.

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