Saudi Arabia shortlists bidders for 1.2GW third renewables round

18 Oct 2021
Saudi Arabia shortlists bidders for 1.2GW third renewables round

Saudi Arabia’s Renewable Energy Project Development Office (Repdo) has shortlisted bidders for the 1.2GW third round of the kingdom’s National Renewable Energy Programme (NREP).

 

Saudi Arabia’s Renewable Energy Project Development Office (Repdo) has shortlisted bidders for the 1.2GW third round of the kingdom’s National Renewable Energy Programme (NREP).

Category B projects

A consortium led by the local Acwa Power was shortlisted as preferred bidder for the 700MW Al-Rass photovoltaic (PV) solar independent power producer (IPP) project with a levelised cost of electricity (LCOE) tariff of SR0.05623/kWh ($cents1.6/kWh).

Other members of the Acwa Power consortium are SPIC (Huamghe Hydropower Development Company) and WEHC (Water & Electricity Holding Company (WHEC).

The second ranked bidder for the Al-Rass project, the largest project tendered under the NREP third round, was a consortium led by China’s Jinko Power with a LCOE tariff of SR0.05762/kWh.

For the second Category B project tendered under the third round, the 300MW Saad PV IPP, the Jinko Power consortium was ranked as first shortlisted bidder with a LCOE tariff of SR0.05563/kWh.

UAE-based Masdar was shortlisted as the second shortlisted bidder for the 300MW Saad project with a LCOE tariff of SR0.06853/kWh.

Repdo received bids from three groups for the Category B projects on 3 June.

 

 Category A projects

 

For the 120MW Wadi al-Dawasir PV IPP, a consortium of France’s TotalEnergies Solar and the local Tamasuk Holding Company was selected as the first ranked bidder with a LCOE tariff of SR0.07001/kWh. The same Acwa Power consortium was selected as the second shortlisted bidder for the project with a LCE tariff of SR0.09838/kWh.

For the 80Mw Layla PV IPP, the Acwa Power consortium was selected as preferred bidder with a tariff of SR0.1119/kWh.

The second ranked bidder for the Layla PV IPP was a consortium led by the local Alfanar, which had submitted a LCOE tariff of SR0.12187/kWh.

Repdo had received bids from three groups for the Category A projects on 3 May.

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.

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