Saudi Arabia Launches Tender for 4.5 GW of Renewable Energy Projects

Saudi Arabia on Tuesday launched a tender seeking to award 4.5 GW of solar and wind energy projects across the Kingdom.

The Saudi Power Procurement Company (SPPC), responsible for tendering and offtaking the energy from the projects, has issued a request for a qualification (RfQ) for the sixth round of the National Renewable Energy Programme (NREP), which includes four solar and one wind energy projects.

Under the NREP, Saudi Arabia aims to boost the share of renewable energy in its power mix to 50% by the end of this decade. Until now, SPPC has allocated 19 GW of renewable energy capacity. Starting in 2024, SPPC plans to issue annual tenders for new renewable energy projects, totalling 20 GW. The goal is to achieve a total renewable energy capacity of 100 to 130 GW by 2030.

Earlier this year, SPPC signed power purchase agreements (PPAs) for three solar projects -- 2-GW Haden, 2-GW Muwayh, and 1.5-GW Al Khushaybi as well as for two wind projects of a combined 1.1 GW. The latter was signed at a world "record low" price for wind energy at USD 15.65 (EUR 14.05) per MWh, according to SPPC.