Exciting Developments in Saudi Arabia’s Renewable Energy Sector
The Saudi Power Procurement Company (SPPC) has recently signed Power Purchase Agreements (PPAs) for three Solar Independent Power Producer (IPP) projects as part of the fifth round of solar initiatives under the National Renewable Energy Program (NREP), overseen by the Ministry of Energy. These projects mark a significant step towards achieving the Kingdom’s goal of sourcing 50% of its electricity from renewable energy by 2030.
Details of the Solar IPPs
1. Al-Masaa IPP: The Al Masa’a IPP, with a capacity of 1000 MWac, will be situated in the Hail province, KSA. The PPA for this project was signed with the Consortium of SPIC Huanghe Hydropower Development Co. Ltd and EDF Renouvelables S.A. at a competitive price of 5.13228 Halala/kWh (1.36861 USDc/kWh).
2. Al Henakiyah 2 IPP: The Al Henakiyah 2 IPP, with a capacity of 400 MWac, will be located in the Madinah province, KSA. The PPA for this project was also signed with the Consortium of SPIC Huanghe Hydropower Development Co. Ltd and EDF Renouvelables S.A. at a rate of 5.68618 Halala/kWh (1.51631 USDc/kWh).
3. Rabigh 2 IPP: The Rabigh 2 IPP, with a capacity of 300 MWac, will be situated in the Makkah Province, KSA. The PPA for this project was signed with the Consortium of Al Jomaih Energy and Water Company, TotalEnergies Renewables, at a price of 6.68019 Halala/kWh (1.78138 USDc/kWh).
In October 2024, SPPC announced the shortlisted Bidders for an additional 3,700 MW Round 5 Solar Projects, further solidifying the Kingdom’s commitment to renewable energy.
Conclusion
The signing of these PPAs for solar IPPs in Saudi Arabia represents a significant milestone in the country’s journey towards a more sustainable and environmentally friendly energy sector. With ambitious goals set for the future, the Kingdom is well on its way to becoming a global leader in renewable energy production.
FAQs
What is the capacity of the Al Masa’a IPP?
The Al Masa’a IPP has a capacity of 1000 MWac.
Which consortium submitted the PPA for the Rabigh 2 IPP?
The PPA for the Rabigh 2 IPP was submitted by the Consortium of Al Jomaih Energy and Water Company, TotalEnergies Renewables.
What is the goal of the National Renewable Energy Program (NREP) in Saudi Arabia?
The NREP aims to achieve the optimal energy mix in the Kingdom, displacing liquid fuels and sourcing 50% of electricity from renewable energy by 2030.
When were the shortlisted Bidders for the additional 3,700 MW Round 5 Solar Projects announced?
The shortlisted Bidders were announced in October 2024.
Who oversees the National Renewable Energy Program (NREP) in Saudi Arabia?
The NREP is led and supervised by the Ministry of Energy in Saudi Arabia.
What is the price submitted for the Al Henakiyah 2 IPP?
The Consortium of SPIC Huanghe Hydropower Development Co. Ltd and EDF Renouvelables S.A. submitted a price of 5.68618 Halala/kWh for the Al Henakiyah 2 IPP.
Where will the Al Henakiyah 2 IPP be located?
The Al Henakiyah 2 IPP will be situated in the Madinah province, KSA.
What is the capacity of the Rabigh 2 IPP?
The Rabigh 2 IPP has a capacity of 300 MWac.
Who signed the PPA for the Al Masa’a IPP?
The PPA for the Al Masa’a IPP was signed with the Consortium of SPIC Huanghe Hydropower Development Co. Ltd and EDF Renouvelables S.A.
What is the price submitted for the Rabigh 2 IPP?
The Consortium of Al Jomaih Energy and Water Company, TotalEnergies Renewables, submitted a price of 6.68019 Halala/kWh for the Rabigh 2 IPP.
Tags
Renewable Energy, Saudi Arabia, Solar Projects, Power Purchase Agreements