Saudi Arabia sets Sept deadline for 300 MW solar project bids

Saudi Arabia will receive bids for its 300 megawatt (MW) solar photovoltaic project in Sakaka no later than September and will announce winners in November 2017, the state-owned Saudi Press Agency (SPA) reported on Wednesday, citing Turki Al-Shehri, head of the National Renewable Energy Program.

A total of 27 companies were prequalified to compete for the Kingdom’s first renewable energy project, Al-Shehri added at a press conference held by the ministry of energy, industry, and mineral resources.

A power purchase agreement will be concluded for 25 years under the solar plant.

The world’s top oil exporter Saudi Arabia had earlier shortlisted companies for its solar and wind power projects, as part of the first round of its renewable energy initiative, energy ministry Khalid Al Falih said.

Saudi Arabia is targeting 9.5 GW of renewable energy by 2023 in line with Vision 2030.

The renewables program involves investment of between $30 billion and $50 billion by 2023.