Saudi Arabia’s 3.7 GW solar tender attracts lowest bid of $0.0129/kWh

Saudi Power Procurement Co. (SPPC) announced this week the shortlisted bidders for the final phase of the fifth round of the Saudi Arabian government’s National Renewable Energy Program (NREP).

The tendered PV plants include the 2 GW (AC) Al Sadawi plant located in the country’s east and the 1 GW (AC) Al Masa’a project located in northern Hail province. It also includes the 400 MW (AC) Al Henakiyah 2 plant located in western Madinah province and the 300 MW (AC) Rabigh 2 array located in western Makkah province.

For the 2000 MW Al-Sadawi Solar PV IPP Project, the shortlisted bidders are a consortium comprising UAE-based Masdar and Korea Electric Power Corporation (KEPCO), which offered a price of $0.0129/kWh, and a consortium formed by China-based SPIC Huanghe Hydropower Development Co., Ltd. and France-based EDF Renouvelables, which submitted a price of $0.0131/kWh.

The shortlisted bidders for the 1,000 MW Al-Masaa Project (1000 MW) are the SPIC Huanghe Hydropower Development-EDF Renouvelables consortium, which offered $0.0131/kWh, and Saudi-based Al Jomaih Energy and Water Company in partnership with the renewable energy arm of French giant TotalEnergies, which submitted a price of $0.0136/kWh.

For the 400 MW Al-Henakiyah2 Project, a price of $0.0140/kWh was offered by the SPIC Huanghe Hydropower Development-EDF Renouvelables consortium including KEPCO, while another group including Masdar and Saudi energy company Nesma Renewable Energy (NRE) offered $0.0151/kWh.

As for the fourth project – the 300 MW Rabigh2 Project – Al Jomaih Energy and Water Company, TotalEnergy and KEPCO offered $0.0178/kWh, while Nesma and Masdar submitted a bid of $0.0189/kWh.

The lists of the pre-selected “managing and technical members” as well as a list of “managing members” was revealed in February.

The first list included:

• UAE-based renewable energy developer Masdar
• Saudi Arabia-based energy company Al Jomaih Energy & Water Company (AEW)
• Saudi developer Alfanar
• Thailand-based industrial group B.Grimm Group
• UAE-based BGL Renewable Energy Systems Installation LLC
• EDF Renouvelables, the renewable energy unit of French energy giant EDF
• Renewable energy company FAS Energy, a unit of Saudi industrial group Fawaz Al Hokair Group
• Japan’s Itochu Corporation
• China-based Jinko Power
• Kahrabel FZE, a unit of French energy company Engie
• Korean utility Korea Electric Power Corporation (KEPCO)
• Japan’s Marubeni Corporation
• Qatar-based Nebras Power
• Saudi energy company Nesma Renewable Energy (NRE)
• South Korean engineering company Samsung C&T Corporation
• China-based SPIC Huanghe Hydropower Development Co. Ltd.
• Japan’s Sumitomo Corporation
• Total Energies Renewables SAS, a unit of French oil and energy company Total

The second list comprised:

• Greek conglomerate GEK Terna
• Thailand-based Gulf Energy Development Public Company Limited
• Japanese utility Jera
• Power Construction Corporation of China (PowerChina)
• Saudi Electricity Company

Projects will be overseen by SPPC – the government-owned entity tasked with procuring electricity from independent power producers – which will be responsible for the predevelopment, tendering and subsequent offtaking of energy.