View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Comment
March 13, 2019

Saudi Arabia launches prequalification for seven solar projects

Saudi Arabia has invited developers to submit prequalification documents for seven solar projects will generate over 1.5GW of power.

By MEED   

Saudi Arabia’s Renewable Energy Project Development Office (Repdo) has invited developers to submit prequalification documents for seven photovoltaic (PV) solar projects under the second round of the kingdom’s National Renewable Energy Programme (NREP).

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

MEED previously reported that developers had been invited to submit expressions of interest by 14 February. According to sources close to the programme, developers have now been invited to submit prequalification documents by 8 April.

The seven solar projects will have a combined total capacity of 1.51GW.

Each project will be developed under a build, own and operate model, with the successful winning bidder for each project to sign a 25-year power purchase agreement with the kingdom’s offtaker.

The winning bidding group will form a special purpose vehicle to operate each plant, and will own 100% of the asset.

The seven projects under the second round of the NREP are:

  • Medina solar PV independent power project (IPP): Medina Province, approximately 26 kilometres from Medina city (50MW)
  • Rafha solar PV IPP: Northern Borders province, approximately 16km from Rafha city (45MW)
  • Qurayyat solar PV IPP: Al-Jawf Province, approximately 15km from Qurayyat city (200MW)
  • Al-Faisaliah solar PV IPP: Mecca Province, approximately 80km south of Jeddah city (600MW)
  • Rabigh solar PV IPP: Mecca Province, approximately 145km north of Jeddah city (300MW)
  • Jeddah solar PV IPP: Mecca Province, approximately 50km southeast of Jeddah city (300MW)
  • Mahd al-Dahab solar PV IPP: Medina Province, approximately 150km southeast of Medina (20MW)

While all of the seven projects will be procured along broadly similar lines, they will be split into two groups for financing requirements. For category ‘A’ projects – which incudes the Medina, Rafha and Mahd al-Dahab schemes – the IPPs will be financed through “corporate finance procured on the balance sheets of the successful bidders’ consortium members and/or through the raising of limited or non-recourse debt facilities.”

For the remaining four projects, category ‘B’ schemes, the IPPs will financed through the raising of limited or non-recourse debt facilities.

Repdo’s second round advisers are Japan’s Sumitomo Mitsui Banking Corporation (SMBC) as lead and financial adviser, the UK’s DLA Piper as legal adviser, and Germany’s Fichtner as technical adviser.

The kingdom recently revised its renewable energy targets, now targeting an ambitious 27.3GW of clean energy by 2024 and 58.7GW by 2030. The 2024 target will include 20GW of PV solar, with the 2030 target including PV solar capacity of 40GW.

Repdo will spearhead the development of 30% of the total capacity, with sovereign wealth fund Public Investment Fund to oversee development of the remaining 70%.

MEED This article is sourced from Power Technology sister publication www.meed.com, a leading source of high-value business intelligence and economic analysis about the Middle East and North Africa. To access more MEED content register for the 30-day Free Guest User Programme.https://www.meed.com/registration/

Related Companies

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology