ACWA Power and Marubeni Corporation (with consortium members Khaled Ahmed Juffali Energy & Utilities Limited and Axia Power Holdings BV) have been shortlisted by the Renewable Energy Project Development Office (REPDO) within the Ministry of Energy, Industry and Mineral Resources (MEIM) in Saudi Arabia to develop the 300 MW PV project in Sakaka, Al Jouf as part of Round 1 of the National Renewable Energy Program (NREP). The project will be awarded to the selected bidder in January while the deadline for financial close of the »Sakaka« PV project is February 2018. The project is backed by a 25-year power purchase agreement with the Saudi Power Procurement Company (SPPC). According to the Middle East Solar Industry Association (MESIA), the bids were ¢ 2,341 per kWh (ACWA Power) and ¢ 2,660 per kWh (Marubeni), respectively.
The requests for proposals (RFP) phase was launched by the Minister of Energy, Industry and Mineral Resources in April 2017. Saudi Arabia’s first ever utility scale Solar PV power plant will be the first of 60 greenfield projects tendered over the course of the next seven years as Saudi Arabia pursues a target of 9.5 GW of renewables by 2023 in line with Vision 2030.
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