Saudi signs deals for 5,500 MW solar projects

Saudi signs deals for 5,500 MW solar projects

These are part of the kingdom’s renewable energy programme.

The Saudi Power Procurement Company (SPPC) has inked power purchase agreements for three new solar photovoltaic projects with a total capacity of 5,500 megawatts (MW).

In a statement, the Ministry of Energy said the deals are with ACWA Power Company, Aramco Power and the Water & Electricity Holding Company (Badeel), which is a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund.

The three projects are the Haden Solar PV with a total capacity of 2,000 MW and a levelised cost of electricity (LCOE) of 1.58762 cents per kilowatt-hour (cents/kWh); Al-Muwaih Solar PV with a total capacity of 2,000 MW and an LCOE of 1.60852 cent/kWh, and Al-Khushaybi PV with a total capacity of 1,500 MW and an LCOE of 1.67289 cent/kWh.

The first two are located in Makkah Province, and the latter in Qassim Province. All projects are part of the National Renewable Energy Programme, the ministry said.

So far, 21 projects have been awarded under the said programme, including those that were recently sealed, with a total capacity of 19 gigawatts (GW).

The ministry said Saudi Arabia will start annual tenders this year for new renewable energy projects with a total capacity of 20 GW, with the aim of reaching between 100 to 130 GW by 2030.