Saudi Arabia has shortlisted several bidders for the next phase of its National Renewable Energy Programme (NREP), which involves the competition for four solar projects totaling 3.7 GW of capacity. The lowest bid submitted stands at USD 12.92 (EUR 11.91) per MWh, marking a significant milestone in the country's solar energy ambitions.
The projects in the fifth round include the 2-GW Sadawi project in the Eastern Province, the 1-GW Al Masa'a Solar PV IPP in Hail Province, the 400-MW Al Henakiyah Solar PV IPP in Madinah, and the 300-MW Rabigh 2 Solar project in Makkah. These projects are part of Saudi Arabia's efforts to expand its renewable energy capacity and reduce its dependence on fossil fuels.
Among the qualified bidders advancing to the next stage are a consortium led by Abu Dhabi-based Masdar, Korea Electric Power Corp, and GD Power Development. Also shortlisted are SPIC Huanghe Hydropower Development Co in partnership with EDF Renouvelables, as well as Al Jomaih Energy and Water Co with TotalEnergies Renewables, according to the Saudi Power Procurement Company (SPPC).
Notably, the Masdar-led consortium offered the lowest price of USD 12.92 per MWh for the Al-Sadawi project, the largest of the four. For two other projects, Masdar and Korea Electric Power Corp are collaborating with Nesma Company instead of GD Power Development.
