{"id":1140,"date":"2024-12-05T09:21:57","date_gmt":"2024-12-05T05:21:57","guid":{"rendered":"https:\/\/www.utilitybusinessmena.com\/?p=1140"},"modified":"2024-12-05T09:21:57","modified_gmt":"2024-12-05T05:21:57","slug":"saudi-arabia-signs-ppas-for-1-7gw-solar-projects-in-renewable-energy-push","status":"publish","type":"post","link":"https:\/\/cheeltech.com\/utilitybusinessmena\/electricity\/saudi-arabia-signs-ppas-for-1-7gw-solar-projects-in-renewable-energy-push","title":{"rendered":"Saudi Arabia signs PPAs for 1.7GW solar projects in renewable energy push"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.utilitybusinessmena.com\/electricity\/uae-and-saudi-arabia-join-common-electricity-market-launched-by-arab-league\" data-type=\"post\" data-id=\"1126\" rel=\"nofollow noopener\" target=\"_blank\">Saudi Arabia<\/a> has finalized <a href=\"https:\/\/www.utilitybusinessmena.com\/power\/mitsubishi-power-completes-landmark-5300mw-power-plant-in-thailand\" data-type=\"post\" data-id=\"545\" rel=\"nofollow noopener\" target=\"_blank\">power purchase agreements (PPAs)<\/a> for three solar photovoltaic projects totaling 1,700 megawatts as part of its National Renewable Energy Program (NREP).<\/p>\n\n\n\n<p>The Saudi Power Procurement Company (SPPC), which oversees competitive procurement for renewable energy projects, confirmed the agreements under the program&#8217;s fifth round.<\/p>\n\n\n\n<p>The projects include the Al-Masaa, Al-Henakiyah 2, and Rabigh 2 independent power plants (IPPs), each awarded to leading international and local consortiums following competitive bidding.<\/p>\n\n\n\n<p><strong>Project details and developers<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Al-Masaa IPP (1,000 MW)<\/strong><br>Located in the Hail province, the Al-Masaa project was awarded to a consortium led by China\u2019s SPIC Huanghe Hydropower Development Co. Ltd and France\u2019s EDF Renouvelables S.A. The consortium secured the project with a record-low tariff of 5.13228 halalas per kilowatt-hour (approximately 1.37 US cents\/kWh).<\/li>\n\n\n\n<li><strong>Al-Henakiyah 2 IPP (400 MW)<\/strong><br>This project, situated in Madinah province, was also awarded to the SPIC-EDF consortium at a tariff of 5.68618 halalas\/kWh (1.52 US cents\/kWh).<\/li>\n\n\n\n<li><strong>Rabigh 2 IPP (300 MW)<\/strong><br>The 300 MW facility in Makkah province was awarded to a consortium comprising Saudi Arabia&#8217;s Al Jomaih Energy and Water Company and TotalEnergies Renewables. The winning bid offered a tariff of 6.68019 halalas\/kWh (1.78 US cents\/kWh).<\/li>\n<\/ul>\n\n\n\n<p>The projects form part of Saudi Arabia\u2019s broader commitment to produce 50% of its electricity from renewable sources by 2030, displacing traditional liquid fuels in the power sector.<\/p>\n\n\n\n<p>The National Renewable Energy Program, spearheaded by the Ministry of Energy, has become a pivotal instrument in the Kingdom\u2019s transition towards a sustainable and diversified energy future.<\/p>\n\n\n\n<p>Analysts have lauded the competitive tariffs achieved in the latest round, underscoring Saudi Arabia&#8217;s attractiveness as a renewable energy hub due to its favorable solar conditions and ambitious policy framework.<\/p>\n\n\n\n<p>\u201cThis milestone reinforces Saudi Arabia\u2019s leadership in advancing utility-scale renewable projects in the region,\u201d the SPPC said in a statement.<\/p>\n\n\n\n<p>The agreements further bolster the Kingdom&#8217;s ability to meet growing domestic energy demand while reducing its carbon footprint. With solar energy playing a key role in achieving energy security, the projects are aligned with the global push for clean energy solutions.<\/p>\n\n\n\n<p>The fifth round of the NREP also shortlisted bids for an additional 3,700 MW of capacity, indicating sustained momentum in Saudi Arabia&#8217;s renewable energy drive.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Saudi Power Procurement Company (SPPC) confirmed the agreements under the NREP fifth round.<\/p>\n","protected":false},"author":2,"featured_media":749,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,40,428,41,559],"tags":[317,1200,318],"class_list":{"0":"post-1140","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-electricity","8":"category-news","9":"category-power","10":"category-renewable-energy","11":"category-solar","12":"tag-national-renewable-energy-programme-nrep","13":"tag-ppa","14":"tag-saudi-power-procurement-company-sppc"},"_links":{"self":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/1140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/comments?post=1140"}],"version-history":[{"count":0,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/1140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media\/749"}],"wp:attachment":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media?parent=1140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/categories?post=1140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/tags?post=1140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}