Utility Kahramaa has revealed the winning consortium initially offered $0.01745/kWh with the price then reduced based on financial market indices.
The resulting project will sell power to Qatar General Electricity and Water Corp under a 25-year power supply deal. French oil and gas giant Total and Japanese conglomerate Marubeni will hold a combined 40% stake in the power plant, which will be built near Doha, the Qatari capital.
With Kuwait, Qatar and even renewables laggard Saudi Arabia following in the wake of regional clean energy pioneer the UAE, a raft of huge solar tenders is entering the Middle Eastern project pipeline. Obstacles remain to overseas project developers but significant rewards are on offer.
A consortium led by Jinko Power and Korea Electric Power Corp., as well as another group led by Japanese conglomerate Marubeni and French energy group Total, have submitted bids for Qatar’s 700 MW solar tender. The final results will be announced in September.
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