The Saudi Electricity Company has signed a Memorandum of Understanding with the Public Investment Fund and Softbank Vision Fund to create 3 GW of solar and storage capacity in the Kingdom in 2018.
The recent Saudi Arabian tender for 300 MW of solar PV saw a bid of $0.0178/kWh – the lowest price by far yet seen globally. Aymen Grira of French energy consultancy Altran discusses this bid, and explores the wider PV potential of the MENA region.
A consortium formed by UAE-based Masdar and French energy giant EDF has offered to deploy all the tendered capacity at a LCOE of 0.06697 SAR ($0.0178) per kWh. In addition, seven of the eight bids were under $0.03 per kWh. The tender’s bidders will be announced by the end of January 2018.
The Middle Eastern country has so far mainly supported large-scale projects. The new rules, which will apply to projects not exceeding 1 MW, will come into force in mid-2018.
The Saudi Renewable Energy Development Office (REPDO) has announced a shortlist of 27 companies that will be invited to submit proposals for 300 MW of solar PV commissioned as part of the first round of Saudi Arabia’s National Renewable Energy Program (NREP).
Middle East Solar Industry Association’s Solar Outlook Report 2017 suggests more than 5.7 GW of solar power – including concentrated solar power – is in the pipeline for the region, with 2017 poised to be strongest year yet.
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