Saudi Arabia has awarded five renewable energy projects with a total capacity of 4,500 megawatts (MW) under the sixth round of the National Renewable Energy Programme (NREP).

The total investments exceed 9 billion Saudi riyals (approximately $2.4 billion), the Ministry of Energy said in a press statement, adding that the Dawadmi wind and Najran solar energy projects set new world records in terms of Levelised Cost of Energy (LCOE).

  • The 1,500 MW Dawadmi Wind IPP, located in Riyadh province, was awarded to a consortium comprising South Korea's Korea Electric Power Corporation (KEPCO), local Nesma Renewable Energy Company and UAE's Etihad Water and Electricity Company (EtihadWE). The project achieved an LCOE of 1.33803 cent/kWh (5.01760 Halala/kWh) to set a new world record in wind power generation.
  • The 1,400 MW Najran Solar PV IPP, located in the Najran region, was awarded to the UAE-based Abu Dhabi Future Energy Company (Masdar). The project achieved LCOE of 1.09682 US cents per kWh (4.11307 halalas per kWh), setting the second-lowest LCOE for solar energy, following the (Shuaiba 1) project, which had achieved LCOE of 1.04 US cents per kWh.
  • The 600MW Ad Darb Solar PV IPP, located in Jazan province, was awarded to Masdar. The project achieved an LCOE of 1.36070 cent/kWh (5.10262 Halala/kWh).
  • The 600MW Samtah Solar PV IPP, located in Jazan province, was awarded to a consortium of Saudi Electricity Company (SEC), and EDF Power Solutions International. The project achieved an LCOE of 1.48678 cent/kWh (5.57544 Halala/kWh).
  • As Sufun Solar PV IPP Plant, located in Hail province, with a capacity of 400 MW, was awarded to a consortium comprising Al Jomaih Energy & Water Company (AEW) and TotalEnergies Renewables. The project achieved an LCOE of 1.50686 cent/kWh (5.65074 Halala/kWh).

The Ministry statement said the total renewable energy generation capacity tendered will reach 64 GW by the end of 2025. With Round 6, the total signed renewable capacity stands at 43.2 GW, with 12.3 GW being already connected to the grid.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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