The Saudi Arabian Renewable Energy Project Development Office (REPDO) has completed awarding 300 MW solar PV capacity under NREP Phase I to ACWA Power. Eversheds Sutherlands claims the agency has selected 60 developers out of 256 that responded to its expression for interest under NREP Phase II.
- REPDO has shortlisted 60 companies out of 256 that expressed interest in developing 1.515 GW of solar power capacity in Saudi Arabia, according to a law firm Eversheds Sutherland
- Projects are likely to be established as 114 MW under category A with corporate finance
- Under Category B, 1.4 GW capacity will be developed through a mic of corporate finance and debt
- The law firm says REPDO is expected to launch request for selection round in July 2019
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The Saudi Arabian Renewable Energy Project Development Office (REPDO) has shortlisted 60 companies for a 1.515 GW of tender capacity, according to law firm Eversheds Sutherland. The tender was launched in January 2019, and REPDO received interest from 256 companies including 100 domestic firms to its expression of interest (see Saudi Arabia Invites RFQ For 1.5 GW Solar Project).
While REPDO itself hasn’t confirmed this development, Eversheds says 60 developers have been pre-qualified for either one or both of the category A and B projects comprising 7 projects of 1.515 GW. Under category A, 114 MW of capacity will be developed through 3 independent power projects in Medina, Rafha and Mahd-al-Dahab. This will be financed through corporate finance procured on the balance sheets of the successful bidders and/or through debt.
The main part, 1.4 GW capacity, will be developed under category B to be financed through debt facilities.
REPDO is expected to issue a request for proposals round to the shortlisted bidders in July 2019 under its National Renewable Energy Program (NREP) Phase II. Under Phase I, it awarded 300 MW to ACWA Power in February 2018 (see ACWA Power Wins 300 MW Saudi PV Tender).
In March 2019, the Ministry of Energy, Industry and Mineral Resources announced a 2.6 GW solar power project to be developed in phases. REPDO is likely to tender 600 MW in 2019 (see Saudi Arabia Announces 2.6 GW Solar Project).