Saudi Arabia postpones bid deadline for solar projects
Saudi Arabia’s Renewable Energy Project Development Office (Repdo) has postponed the planned bid opening for the photovoltaic (PV) solar projects under Category A in the third round of the kingdom’s National Renewable Energy Programme (NREP).
Saudi Arabia’s Renewable Energy Project Development Office (Repdo) has postponed the planned bid opening for the photovoltaic (PV) solar projects under Category A in the third round of the kingdom’s National Renewable Energy Programme (NREP).
Developers had been due to submit proposals for the 120MW Wadi ad-Dawasir PV independent power producer (IPP) project and 80MW Layla PV IPP on 6 April. The client has notified developers that the bid deadline and bids will be due before the Eid break, with the date to be confirmed shortly.
The bid submission date for the larger Category B projects, which have a combined capacity of 1GW, remains on 24 May.
The Category A projects are:
• Wadi ad-Dawasir, 120MW
• Layla, 80MW
The Category B projects are:
• Ar-Rass, 700MW
• Saad, 300MW
Each project will be developed under a build-own-operate (BOO) model, with the successful bidder holding 100 per cent equity in the special purpose vehicle (SPV) set up to developer and operate the IPP.
SPVs will sign a 25-year power purchase agreement (PPA) with the kingdom’s offtaker. Land for the projects will be secured by Repdo and provided to the project company under sub-lease agreements.
Repdo’s advisers for the third round of the NREP are Japan’s Sumitomo Mitsui Banking Corporation (SMBC) as lead and financial adviser, Germany’s Fichtner as technical adviser and the UK’s DLA Piper as legal adviser.
Saudi Arabia has set an ambitious target to install 58.7GW of renewable energy capacity by 2030, with Repdo to oversee the development of 30 per cent of this though a competitive IPP tendering programme.
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