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					</table><p>The Saudi Power Procurement Company (<a href="https://spb.com.sa/" target="_blank" rel="noopener">SPPC</a>) has awarded four solar and one wind projects totaling 4.5 GW in the sixth phase of the National Renewable Energy Program (NREP).</p>
<p><strong>Solar Projects</strong></p>
<p>Abu Dhabi Future Energy Company won the 1.4 GW Najran solar project at a levelized cost of energy (LCOE) of SAR0.04 (~$0.01)/kWh. Abu Dhabi Future Energy Company won the 600 MW Ad Darb solar project at an LCOE of SAR0.05 (~$0.01)/kWh. The project will be located in Jazan province.</p>
<p>Saudi Electricity Company and Électricité de France Power Solutions International won the 600 MW Samtah solar project at an LCOE of SAR0.06 (~$0.02)/kWh. The project will be located in Jazan province.</p>
<p>A consortium comprising Al Jomaih Energy &amp; Water Company Holding and TotalEnergies Renewables won the 400 MW Sufun solar project at an LCOE of SAR0.06 (~$0.02)/kWh. The project will be located in Hail province.</p>
<p><strong>Wind Project</strong></p>
<p>A consortium comprising Korea Electric Power Corporation, Nesma Renewable Energy Company, and Etihad Water and Electricity Company won the 1.5 GW Dawadmi wind project at an LCOE of SAR0.05 (~$0.01)/kWh. The project will be located in Riyadh province.</p>
<p>The tariff for the 1.5 GW project is the lowest for wind power generation worldwide.</p>
<p>The projects are expected to be set up with total investments exceeding SAR9 billion (~$2.4 billion).</p>
<p>By the end of 2025, Saudi Arabia’s total renewable energy generation capacity tendered is expected to reach 64 GW.</p>
<p>Upon the signing of the projects awarded under the sixth phase of the NREP, the total signed renewable capacity will be 43.2 GW. Of the 43.2 GW, 12.3 GW of projects are already connected to the grid.</p>
<p>In September 2025, the SPPC, a government-owned entity under Saudi Arabia’s Ministry of Energy, <a href="https://www.mercomindia.com/saudi-arabia-invites-bids-for-5-3-gw-renewable-energy-projects" target="_blank" rel="noopener">released</a> tender documents for the seventh round of the country’s NREP. The latest round has invited bids for 3.1 GW of solar and 2.2 GW of wind energy projects.</p>
<p>Last December, the SPPC <a href="https://mercomindia.com/saudi-arabia-signs-power-purchase-agreements-for-1-7-gw-solar-projects" target="_blank" rel="noopener">finalized</a> power purchase agreements for three solar photovoltaic projects totaling 1.7 GW. SPCC confirmed these agreements under the program’s fifth round, shortlisting bids for an additional 3.7 GW of capacity.</p>


Saudi Arabia Awards 4.5 GW of Solar and Wind Energy Projects


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					</table><p><strong>The Abu Dhabi Fund for Development (ADFD) signed a financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to expand the Gulf Cooperation Council&#8217;s power grid interconnection with the UAE’s national grid, valued at AED 752</strong> million (~$205 million). The objective of the project is to strengthen the interconnectivity between the UAE and the GCC power grid, thereby enhancing regional energy resilience. The project supports the UAE Energy Strategy 2050 by creating an energy system that is both efficient and sustainable, fostering long-term economic growth for the nation. The agreement was signed at ADFD headquarters in Abu Dhabi by Mohammed Saif Al Suwaidi, Director General of ADFD, and Ahmed Ali Al Ebrahim, CEO of GCCIA.</p>
<p><strong>Saudi</strong>-based <strong>ACWA Power</strong> <a href="https://www.ainvest.com/news/acwa-power-sar7-12-billion-rights-issue-catalyst-renewable-energy-dominance-long-term-growth-2507/" target="_blank" rel="noopener">launched</a> a rights issue to raise SAR 7.12 billion (~$1.9 billion). ACWA will use the funds to expand its project pipeline and strategic acquisitions. The rights issue involves a 4.63% dilution and has been approved by the Capital Market Authority. Between 74% and 84% of the fund will be allocated to support current and future initiatives. These initiatives include the 2.7 GW Al-Zour North independent wind power project in <strong>Kuwait</strong>, a cogeneration plant capable of processing 540,000 cubic meters of water daily, as well as Saudi Arabia&#8217;s major projects under its National Renewable Energy Program.</p>
<p><strong>Saudi Power Procurement Company</strong> <a href="https://www.zawya.com/en/projects/utilities/saudis-sppc-signs-ppa-for-700mw-yanbu-wind-energy-project-vz32t174" target="_blank" rel="noopener">signed</a> a 700 MW power purchase agreement (PPA) for wind energy with <strong>Yanbu Wind Independent Power Plant</strong> in the country’s Al-Medina al-Munawwarah region<strong>.  </strong>The agreement was signed with a consortium led by Japan’s Marubeni Corporation and Saudi Arabia’s Ajlan and Bros Holding. The project is being developed for 1.7 billion Saudi riyals ($458 million). The levelized cost of electricity is 6.4 halalas/kWh ($1.72). The PPA duration was not disclosed.</p>
<p><strong>Oman</strong>’s sole procurer of power and water capacity, Nama Power and Water Procurement Company, <a href="https://www.zawya.com/en/economy/gcc/oman-4th-i-rec-auction-to-advance-clean-energy-dsq34e6t" target="_blank" rel="noopener">launched</a> its fourth auction round for International Renewable Energy Certificates (I-RECs). The latest round offers over three million I-RECs. These certificates represent renewable energy generated by the Manah I and Manah II solar and Dhofar I wind projects between July 2024 and December 2025. The Manah I and Manah II projects each have a capacity of 500 MW. They are expected to generate approximately 1.5 million I-RECs annually. The Dhofar I project is estimated to generate roughly 150,000 certificates per year.</p>


MENA Weekly Roundup: Abu Dhabi Signs Financing Agreement for GCC Interconnectivity


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					</table><p>Saudi Arabia has announced the pre-qualification of bidders for its 2,000 MW/8000 MWh battery energy storage systems (BESS) tender under its renewable energy expansion strategy.</p>
<p>The Saudi Power Procurement Company (<a href="https://spb.com.sa/">SPPC</a>) is administering the tender, which encompasses four projects of 500 MW each:</p>
<ul>
<li><strong>Al-Muwyah BESS ISP</strong>: 500 MW/1000 MWh in Makkah Province</li>
<li><strong>Haden BESS ISP</strong>: 500 MW/1000 MWh in Makkah Province</li>
<li><strong>Al-Khushaybi BESS ISP</strong>: 500 MW/1000 MWh in Qassim Province</li>
<li><strong>Al-Kahafa BESS ISP</strong>: 500 MW/1000 MWh in Hail Province</li>
</ul>
<p>The tender garnered significant interest, with SPPC receiving 52 bids. Following an evaluation, 33 companies were pre-qualified and categorized into two roles:</p>
<ul>
<li><strong>Managing and Technical Category</strong><br />
Notable international and regional players include Masdar, TAQA, ACWA Power Company, Akaysha Energy, China Energy Overseas Investment Company, China Power Engineering Consulting Group International Engineering, China Southern Power Grid International, Cox Energy, Electricité De France, Envision Energy, FRV-X Renewable, International Power, JERA NEX, Jinko Power, Korea Electric Power Corporation, Marubeni Corporation, Pro -Power Investment, Samsung C&amp;T Corporation, SPIC Huanghe Hydropower Development, Total Energies Renewables, and X-ELIO Energy.</li>
<li><strong>Managing-Only Category</strong><br />
Key participants include Al Gihaz Holding Company, Al Jomaih Energy &amp; Water, Alfanar, FAS Energy, GCL Intelligent Energy, Gulf Energy Development, Nesma Renewable Energy, POSCO International, Power Construction Corporation of China, Saudi Electricity Company, Shell Overseas Investment, and Sumitomo Corporation.</li>
</ul>
<p>The projects, developed under the build-own-operate model, will involve special purpose vehicles (SPVs) established by the successful bidders. Each SPV will sign a 15-year storage services agreement with SPPC, securing long-term commitments to enhance grid stability and support renewable energy integration.</p>
<p>This tender is part of Saudi Arabia’s broader efforts to transform its energy mix, aiming to derive 50% of electricity from renewable sources by 2030.</p>
<p>SPPC recently <a href="https://www.mercomindia.com/saudi-arabia-signs-power-purchase-agreements-for-1-7-gw-solar-projects/">finalized</a> power purchase agreements for three solar photovoltaic projects totaling 1.7 GW as part of its National Renewable Energy Program.</p>
<p>In November 2024, SPCC <a href="https://www.mercomindia.com/masdar-consortium-2-gw-solar-project-saudi-arabia">selected</a> 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.</p>


Saudi Arabia Announces Pre-Qualified Bidders for 8,000 MWh BESS Tender


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					</table><p>The Saudi Power Procurement Company (<a href="https://spb.com.sa/" target="_blank" rel="noopener">SPPC</a>) has selected a consortium of developers comprising Abu Dhabi Future Energy Company (<a href="https://masdar.ae/" target="_blank" rel="noopener">Masdar</a>), <a href="https://home.kepco.co.kr/kepco/main.do" target="_blank" rel="noopener">KEPCO</a>, and <a href="http://www.600795.com.cn/" target="_blank" rel="noopener">GD Power Development Company</a> to commission the 2 GW Al Sadawi Solar Project in Saudi Arabia.</p>
<p>Scheduled for commercial operation in the second quarter of 2027, the project will deliver clean energy at a levelized cost of electricity of $1.2926/kWh.</p>
<p>Part of Round 5 of the National Renewable Energy Program (NREP), the Al Sadawi Solar Project is a key milestone in Saudi Arabia&#8217;s renewable energy ambitions.</p>
<p>By the end of 2024, Saudi Arabia is expected to have signed agreements for 25 renewable energy projects, spanning various regions and collectively contributing approximately 23 GW of generation capacity.</p>
<p>Together with the Rumah and Nairyah Thermal Energy Projects, the Al Sadawi Solar Project represents a total investment of around SAR35 billion (~$9.3 billion). These initiatives reflect Saudi Arabia&#8217;s commitment to achieving the goals of Vision 2030.</p>
<p>The NREP is focused on establishing an optimal energy mix, targeting equal contributions from gas and renewable energy for electricity production by 2030. Additionally, the program aims to phase out the use of liquid fuels in the country&#8217;s electricity generation and other sectors, aligning with its broader environmental and economic objectives.</p>
<p>In September, SPPC <a href="https://www.mercomindia.com/saudi-arabia-renewable-energy-projects/" target="_blank" rel="noopener">invited</a> bids for solar photovoltaic and wind energy projects totaling 4,500 MW under the NREP&#8217;s sixth round.</p>
<p>In July last year, ACWA Power, a Saudi energy company, <a href="https://www.mercomindia.com/acwa-finalizes-financing-solar-projects-saudi">secured</a> $2.2 billion for the 2,060 MW Al Shuaibah 1 and 2 solar projects with a 35% equity stake, supporting Saudi Arabia&#8217;s aim to generate 15.1 TWh of renewable energy annually by 2024.</p>
<p>Saudi Sovereign Fund&#8217;s subsidiary Badeel and ACWA Power are <a href="https://www.mercomindia.com/saudi-sovereign-fund-subsidiary-acwa-develop-4-55-gw-solar" target="_blank" rel="noopener">investing</a> $3.25 billion to develop 4.55 GW solar projects in the country under NREP.</p>


Masdar-led Consortium Selected to Develop 2 GW Solar Project in Saudi Arabia


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					</table><p>The Saudi Power Procurement Company (<a href="https://spb.com.sa/" target="_blank" rel="noopener">SPPC</a>), a government-owned entity under Saudi Arabia’s  <a href="https://www.moenergy.gov.sa/en/Pages/default.aspx" target="_blank" rel="noopener">Ministry of Energy</a>, has released tender documents for the sixth round of the country’s  National Renewable Energy Program (<a href="https://powersaudiarabia.com.sa/web/index.html" target="_blank" rel="noopener">NREP</a>).</p>
<p>The program is led and supervised by the Ministry of Energy.</p>
<p>The latest round has invited bids for solar photovoltaic and wind energy projects with a combined capacity of 4,500 MW.</p>
<p>Round 6 comprises the following projects:</p>
<ul>
<li>1,500 MW Dawadmi Wind IPP in Riyadh province</li>
<li>1,400 MW Najran Solar PV IPP in Najran province</li>
<li>600 MW Samtah Solar PV IPP in Jizan province</li>
<li>600 MW Ad Darb Solar PV IPP in Jizan province</li>
<li>400 MW As Sufun Solar PV IPP in Hail province</li>
</ul>
<p>SPPC has invited interested companies and consortia to participate in the competitive bidding process for these projects.</p>
<p>Essential details related to the bid, such as tender fees, Earnest Money Deposit, and Performance Bank Guarantee, have not been specified.</p>
<p>These projects are part of the NREP initiative, which aims to achieve an optimal energy mix and supply 50% of its electricity from renewable sources by 2030.</p>
<p>SPPC handles the pre-development, tendering, and eventual energy procurement from these projects.</p>
<p>So far, SPPC has allocated more than 19 GW of renewable energy capacity under the NREP program.</p>
<p>Last year, SPCC issued a request for qualification for the fifth round of solar projects with a total capacity of 3,700 MW under NREP.</p>
<p>In July, ACWA Power, a Saudi energy company, <a href="https://www.mercomindia.com/acwa-finalizes-financing-solar-projects-saudi" target="_blank" rel="noopener">secured</a> $2.2 billion for the 2,060 MW Al Shuaibah 1 and 2 solar projects with a 35% equity stake, supporting Saudi Arabia’s aim to generate 15.1 TWh of renewable energy annually by 2024.</p>
<p>Saudi Sovereign Fund’s subsidiary Badeel and ACWA Power are <a href="https://www.mercomindia.com/saudi-sovereign-fund-subsidiary-acwa-develop-4-55-gw-solar" target="_blank" rel="noopener">investing</a> $3.25 billion to develop 4.55 GW solar projects in the country under NREP.</p>


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