The Saudi Power Procurement Company (SPPC) has unveiled the shortlisted contenders for the fourth round of solar initiatives as part of the National Renewable Energy Program (NREP). This program, under the guidance of the Ministry of Energy, seeks to reshape Saudi Arabia’s energy mix, with the goal of achieving 50% renewable energy by 2030.
In December 2022, SPPC initiated the Request for Proposals (RFP) for Round 4 (R4) Solar PV projects, encompassing the 1100 MW Al Henakiyah Solar PV and the 400 MW Tabrajal Solar PV. By June 2023, three proposals were received for each project, all of which underwent meticulous evaluation to ensure alignment with the RFP’s technical and commercial prerequisites.
Here is the list of the shortlisted companies for the R4 Solar PV projects:
Al Henakiyah (1100 MW) Solar PV Project:
- A consortium comprising Abu Dhabi Future Energy Company PJSC (Masdar), EDF Renouvelables S.A., and Nesma Company Limited with a Levelized Cost of Electricity (LCOE) of 6.31575 Halalas/kWh (1.68420 Cents/kWh).
- A consortium comprising Jinko Power (HK) Company Limited, Sun Glare Holding Co. Ltd, and Sunlight Energy Holding Co. Ltd with an LCOE of 6.42126 Halalas/kWh (1.71234 Cents/kWh).
Tabarjal (400 MW) Solar PV Project:
- A consortium comprising Jinko Power (HK) Company Limited, Sun Glare Holding Co. Ltd, and Sunlight Energy Holding Co. Ltd with an LCOE of 6.40482 Halalas/kWh (1.70795 Cents/kWh).
- A consortium comprising Abu Dhabi Future Energy Company PJSC (Masdar), EDF Renouvelables S.A., and Nesma Company Limited with an LCOE of 7.25967 Halalas/kWh (1.93591 Cents/kWh).
These projects are expected to attract investments exceeding 4 billion Saudi Riyals (approximately 1.06 billion USD) each. Each project will follow a build, own, and operate (BOO) model, with the successful bidder retaining 100% ownership of the project company. In addition, each project company will enter into a 25-year agreement with SPPC.
These initiatives are poised to supply power to around 265,000 residential units annually while adhering to local content requirements and contributing to the nation’s economy. SPPC oversees the predevelopment, tendering, and energy offtake from these projects under the supervision of the Ministry of Energy and has already awarded over 11 GW of renewable energy capacity under NREP.