World Record Low Solar Bid Of $0.0104/kWh In Saudi Arabia

Crown Prince Mohammed Bin Salman Claims 600 MW PV Project To Sell Power For Record Low Bid Of $0.0104/kWh In Saudi Arabia; Country Signs Power Purchase Agreements For 7 New Solar Projects: SPA
World Record Low Solar Bid Of $0.0104/kWh In Saudi Arabia

The Kingdom of Saudi Arabia has entered into power purchase agreements (PPA) for 7 new solar projects with a number of private investors, who will develop the projects as independent power producers (IPP).

According to the Saudi Press Agency (SPA), the 7 new projects are as follows:

  • 5 GW Sudair project: Co-developed by PIF and ACWA Power; implemented by an ACWA Power led consortium
  • 600 MW Shuaibah project: To be implemented by a consortium of ACWA Power, Gulf Investment and Al Babtain Contracting
  • 300 MW Jeddah project: To be implemented by a consortium of Masdar, EDF and Nesma
  • 300 MW Rabigh project: To be implemented by a consortium of Marubeni and Aljumaih
  • 200 MW Qurayyat project: To be implemented by a consortium of ACWA Power, Gulf Investment and Al Babtain Contracting
  • 50 MW Al Madinah project: To be implemented by a consortium of Al Blagha, Alfanar and Desert Technologies
  • 20 MW Rafha project: To be implemented by a consortium of Al Blagha, Alfanar and Desert Technologies

In addition, there is operational 300 MW Sakaka IPP project, and 400 MW Dumat Al Jandal Wind Power Project (see ACWA Power Energizes 300 MW Sakaka Solar Plant). All these projects together add up to 3.67 GW of renewable energy capacity, all contracted to supply clean electricity for 20 years to 25 years under PPAs with Saudi Power Procurement Company. This capacity is expected to power more than 600,000 households in the kingdom.

Present on the occasion to officially inaugurate the Sakaka project, Saudi Arabian Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud shared that the 600 MW Shuaibah independent power producer (IPP) solar PV project will deliver power for $0.0104 per kWh. While there is no official word on this, this could easily be the world's lowest winning solar bid as previously Portugal's 2nd solar auction attracted €0.01114 ($0.013) per kWh lowest winning bid in August 2020 (see Portugal Officially Confirms World's Lowest Solar Bid).

Back in April 2020, the country revealed a list of shortlisted bidders for 1.47 GW solar tender capacity under its National Renewable Energy Program (NREP) comprising most of the names mentioned above (see Several Shortlisted Bids In $0.01 Range In Saudi Tender).

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