The Saudi Power Procurement Company (SPPC) has announced the shortlisted bidders for the fourth round of solar projects under the National Renewable Energy Program (NREP).
Under the leadership and supervision of the Ministry of Energy, NREP aims to transform the Kingdom’s power generation energy mix to achieve 50% renewable energy by 2030.
In December 2022, SPPC launched the Request for Proposals (RFP) for Round 4 (R4) Solar PV projects which includes the 1100 MW Al Henakiyah Solar PV and the 400 MW Tabrajal Solar PV. In June 2023, three bids were received for each project. Bids were evaluated to ensure compliance with the RFP’s technical and commercial requirements.
The list of the shortlisted bidders in the R4 Solar PV projects is as follows:
Al Henakiyah (1100 MW) Solar PV Project:
Bidder #1: Consortium of Abu Dhabi Future Energy Company PJSC (Masdar), EDF Renouvelables S.A., Nesma Company Limited
LCOE: 6.31575 Hals/kWh ( 1.68420 Cents/kWh)
Bidder #2: Consortium of Jinko Power (HK) Company Limited, Sun Glare Holding Co. Ltd, Sunlight Energy Holding Co. Ltd.
LCOE: 6.42126 Hals/kWh ( 1.71234 Cents/kWh)
Tabarjal (400 MW) Solar PV Project:
Bidder #1: Consortium of Jinko Power (HK) Company Limited, Sun Glare Holding Co. Ltd, Sunlight Energy Holding Co. Ltd.
LCOE: 6.40482 Hals/kWh ( 1.70795 Cents/kWh)
Bidder #2: Consortium of Abu Dhabi Future Energy Company PJSC (Masdar), EDF Renouvelables S.A., Nesma Company Limited
LCOE: 7.25967 Hals/kWh ( 1.93591 Cents/kWh)
The projects will attract investments exceeding 4 Billion Saudi Riyals (1.06 Billion USD). Each project will be developed on a build, own, and operate (BOO) basis by a project company, which will be 100% owned by the successful bidder. Furthermore, each project company will enter into a 25-year power purchase agreement with SPPC.
The projects will supply power to approximately 265,000 residential units annually. Both projects adhere to the local content requirements, and contribute to the kingdom’s economy.
SPPC is responsible for the predevelopment, tendering, and subsequent offtake Energy from the projects under Ministry of Energy Supervision. To date, SPPC has awarded over 11 GW of renewable energy capacity under NREP.
