Saudi Arabia

Although the Saudi authorities were expected to launch tenders for 3.3 GW of solar last year, these were postponed. According to local industry sources, when new targets for renewables are set and more clarity on solar capacity expansion provided, the first tenders will be issued. The new targets are expected to also include the ambitious 200 GW project announced by the Saudi Government last March.

The Saudi developer is reportedly suffering fines of $700/MW/day for late delivery of a project at the Benban solar complex in Egypt as 180 MW of plants near completion.

The project, tendered by the Saudi authorities in February, will be built by a new company which is 70% controlled by the energy giant and 30% by contractor AlGihaz Holding. The plant will sell power to the Saudi Power Procurement Company at $0.0236/kWh.

The German PV equipment manufacturer has signed two letters of intent (LoI) for joint ventures with companies from Saudi Arabia at the Future Investment Initiative (FII) Forum. The company declined to comment on the current political situation.

Responding to recent news reports that Saudi Arabia had abandoned its very ambitious plans to install 200 GW of solar PV by 2030, the country’s Ministry of Energy, Industry and Mineral Resources (MEIM) issued an official statement saying that the plans are still on track. It also outlined three components of a new power sector transformation plan.

Plans to establish the world’s largest solar energy project have been shelved, according to the Wall Street Journal. Saudi Arabia is instead said to be working on a new, “more practical” renewable energy strategy.

Although the “solar flow battery” is currently considered too expensive by its own creators, a further improvement of its design and the use of emerging solar materials and new electrochemistry may open new opportunities for this kind of technology.

With PIF having distanced themselves from rumors they will help Elon Musk take Tesla back into private ownership – although that claim is disputed – the Saudi wealth fund may be about to write a big cheque to California-based Lucid Motors.

As pv magazine has learnt, the Saudi energy giant lowered its offer to $0.02752/kWh at the last minute, beating the bid lodged by Spain’s Fotowatio, which offered $0.02791 per kWh.

The Zahid Group has invested an undisclosed amount in Germany-based Greencells. A key focus for the latter will now be hybrid systems in the APAC and African regions. An update on the 1.2 GW Sweihan solar project in Abu Dhabi was also given.