Bidders shortlisted for first solar power project

By Davis Thattil | Feb 27, 2018

The Renewable Energy Project Development Office (REPDO) within the Ministry of Energy, Industry and Mineral Resources (MEIM) in Saudi Arabia has shortlisted two bids to develop 300MW of Solar PV in Sakaka, Al Jouf as part of Round 1 of the National Renewable Energy Program (NREP). The shortlisted bidders are  Acwa Power and a consortium led by Marubeni Corporation (comprising Khaled Ahmed Juffali Energy & Utilities Limited and Axia Power Holdings BV).  The project will be awarded to the selected bidder in January 2018 backed by a 25-year Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC). Deadline for financial close of the Sakaka PV project is February 2018.

All eight bids that were submitted have been subjected to a detailed evaluation of material compliance to RFP requirements, including the 30% local content component for Round 1 NREP projects. All companies that have submitted bids for R1 Sakaka PV RFP are invited to participate in future projects of the NREP.

The National Renewable Energy Program (NREP) is a strategic initiative under Vision 2030 and the National Transformation Program (NTP) that aims to substantially increase the share of renewable energy capacity in the total energy mix within the Kingdom to 9.5 GW by 2023. The program sets out a systematic and targeted road map to rapidly diversify the domestic power supply, catalyze economic development and support long-term prosperity in line with Vision 2030’s goals which include creating a new renewable industry and support the buildup of this promising sector.

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