The Saudi Power Procurement Company (SPPC) has finalized power purchase agreements for three solar photovoltaic projects totaling 1.7 GW as part of its National Renewable Energy Program (NREP).

SPCC confirmed these agreements under the program’s fifth round, where it also shortlisted bids for an additional 3.7 GW capacity.

The projects under NREP are the Al-Masaa, Al-Henakiyah 2, and Rabigh 2 independent power plants (IPPs). Each project was awarded to international and local consortiums following competitive bidding.

These projects are part of Saudi Arabia’s target of producing 50% of its electricity from renewable sources by 2030.

Project Details

• Al-Masaa IPP (1 GW)
  Located in the Hail province, the Al-Masaa project was awarded to a consortium led by China’s SPIC Huanghe Hydropower (SPIC) and France’s EDF Renouvelables (EDF) for a record-low tariff of SAR0.051 (~$0.013)/kWh.
• Al-Henakiyah 2 IPP (400 MW)
  Situated in Madinah province, this project was awarded to the SPIC-EDF consortium at a tariff of SAR0.056/kWh (~$0.015)/kWh.

• Rabigh 2 IPP (300 MW)
  Located in the Makah province, the Rabigh 2 IPP project was awarded to a consortium comprising Saudi Arabia’s Al Jomaih Energy and Water Company and TotalEnergies Renewables at a tariff of SAR0.066 (~$0.018) /kWh.

In November, Jinko Power Technology announced the financial close of its 400 MW Tabarjal solar project in Saudi Arabia. The project is set to begin operation in 2025 and is underpinned by a 25-year Power Purchase Agreement at a tariff of $0.017/kWh.

SPCC also selected a consortium of developers comprising Abu Dhabi Future Energy Company (Masdar), KEPCO, and GD Power Development Company in November to commission the 2 GW Al Sadawi Solar Project in Saudi Arabia.

Additionally, in September, SPPC released tender documents for the sixth round of NREP for 4.5 GW renewable energy projects. So far, SPPC has allocated more than 19 GW of renewable energy capacity under NREP.