The Saudi Power Procurement Company (SPPC) has announced the Shortlisted Bidders for the fifth round of solar projects under the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy.
The projects will attract investments exceeding 8 billion Saudi riyals. Each 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.
Al Sadawi IPP : The 2000 MWac Al Sadawi IPP to be located in the Eastern province, KSA.
- Consortium of Abu Dhabi Future Energy Company (Masdar), Korea Electric Power Corporation, GD Power Development Co. Ltd., submitted the price of 4.84736 Halala/kWh (1.29263 USDc/kWh).
- Consortium of SPIC Huanghe Hydropower Development Co. Ltd and EDF Renouvelables S.A submitted the price of 4.92019 Halala/kWh (1.31205 USDc/kWh).
Al-Masaa IPP: The 1000 MWac Al Masa’a IPP to be located in the Hail province, KSA
- Consortium of SPIC Huanghe Hydropower Development Co. Ltd and EDF Renouvelables S.A submitted the price of 5.13228 Halala/kWh (1.36861 USDc/kWh).
- Consortium of Al Jomaih Energy and Water Company, TotalEnergies Renewables submitted the price of 5.25462 Halala/kWh (1.40123 USDc/kWh).
Al Henakiyah 2 IPP: The 400 MWac Al Henakiyah 2 IPP to be located in Madinah province, KSA
- Consortium of SPIC Huanghe Hydropower Development Co. Ltd and EDF Renouvelables S.A submitted the price of 5.68618 Halala/kWh (1.51631 USDc/kWh).
- Consortium of Abu Dhabi Future Energy Company (Masdar), Korea Electric Power Corporation, NESMA Company., submitted the price of 5.90820 Halala/kWh (1.57552 USDc/kWh).
Rabigh 2 IPP : The 300 MWac Rabigh 2 IPP to be located in the Makkah Province, KSA.
- Consortium of Al Jomaih Energy and Water Company, TotalEnergies Renewables submitted the price of 6.68019 Halala/kWh (1.78138 USDc/kWh).
- Consortium of Abu Dhabi Future Energy Company (Masdar), Korea Electric Power Corporation, NESMA Company., submitted the price of 7.11891 Halala/kWh (1.89838 USDc/kWh).
SPPC issued the Request for Qualification (RFQ) of NREP’s Round 5 on the 12th of November 2023. On the 5th of December 2023, SPPC received Statements of Qualification (SOQ) from 31 applicants, of which a total of 23 companies have been qualified for lead roles. In August 2024, six bids were received for each project. Bids were evaluated to ensure compliance with
the RFP’s technical and commercial requirements.
These projects are part of NREP, which aims to achieve the optimal energy mix, displacing liquid fuels in the Kingdom’s power sector and supply 50% of its electricity from renewable energy by 2030.
SPPC is responsible for the predevelopment, tendering, and subsequent offtake Energy projects under Ministry of Energy Supervision. To date, SPPC has awarded over 19 GW of renewable energy capacity under NREP. It is worth noting that the land of the Rabigh 2 project is located in the Rabigh Industrial City, which is supervised by the Saudi Authority for Industrial Cities and Technology Zones (MODON).
