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May 11, 2020

Saudi Arabia moves on wind project

By MEED   

Renewable Energy Project Development Office plans to issue a prequalification request for Yanbu wind project in Saudi Arabia.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
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Saudi Arabia’s Renewable Energy Project Development Office (Repdo) could issue the request for prequalification (RFQ) for its second planned wind independent power project (IPP) in the second half of the year.

MEED understands Repdo plans to tender the Yanbu wind IPP ahead of several planned wind IPPs in Saudi Arabia.

Sources familiar with the scheme tell MEED Repdo and its consultants are still discussing the final capacity of the Yanbu wind scheme.

The planned Yanbu wind IPP with a capacity of 850MW was initially included in the third round of the National Renewable Energy Programme (NREP).

However, the project was excluded when Repdo issued an RFQ for the third round earlier this year.

Repdo tendered and awarded the first wind project, the 400MW Dumat al-Jandal IPP, under the first round.

Round three

Repdo expects to receive proposals for the category B and category A projects under NREP’s round three on 23 September and 7 October respectively.

The four projects under the third round are:

  • Al-Rass solar PV: 700MW (category B)
  • Saad solar PV: 300MW (category B)
  • Wadi al-Dawasir solar PV: 120MW (category A)
  • Layla solar PV: 80MW  (category A)

In 2019, Riyadh ramped up its clean energy goal to target 27.3GW by 2024 and 58.7GW by 2030, superseding the previous 9.5GW by 2023 target.

Repdo will oversee the development of 30% of this ambitious target through competitive tendering.

The Public Investment Fund (PIF) is expected to appoint developers through direct negotiations for the remaining 70%.

This article is published by MEED, the world’s leading source of business intelligence about the Middle East. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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