Saudi Power Procurement Company Announces Shortlisted Consortiums for 5th-Phase Solar Projects

The Saudi Power Procurement Company (Principal Buyer) announced the shortlisted consortiums for four solar energy projects under the fifth phase of the National Renewable Energy Program, supervised by the Ministry of Energy. The company stated that investments in the four projects amount to around SAR 8 billion ($ 2.13 billion). The Principal Buyer launched the Request for Proposals (RFP) for projects with a total capacity of 3,700 megawatts on February 8, including: - Al-Sadawi Solar Photovoltaic (PV) Project with a capacity of 2,000 megawatts. - Al-Masa'a Solar PV Project with a capacity of 1,000 megawatts. - Al-Henakiyah 2 Solar PV Project with a capacity of 400 megawatts. - Rabigh 2 Solar PV Project with a capacity of 300 megawatts. In August, the company received six bids for each project, and all bids were reviewed and evaluated to ensure compliance with technical and commercial requirements. The winning company for each project will sign a 25-year Power Purchase Agreement (PPA) with the Princi pal Buyer, based on a build-own-operate system. The National Renewable Energy Program aims to increase the contribution of renewable energy sources to approximately 50% of the energy mix used for electricity production in the Kingdom by 2030. The Principal Buyer is responsible for conducting preliminary studies for renewable energy projects, offering them for competition, and purchasing the produced energy within the Kingdom. To date, projects with a total capacity exceeding 19 gigawatts have been awarded. The land designated for the Rabigh 2 project is located in Rabigh Industrial City, which is overseen by the Saudi Authority for Industrial Cities and Technology Zones "MODON." Meanwhile, the company invited the public to visit the program's website for more information on the National Renewable Energy Program's projects: www.powersaudiarabia.com.sa Source: Saudi Press Agency