Saudi Electricity invites global bids for 100MW of solar PV plants
Saudi Electricity Company (SEC) has launched an international tender seeking bids for two solar power plants in the kingdom.
The two photovoltaic (PV) independent power plants (IPPs) are to be located in Al-Jouf and Rafha and are expected to individually generate up to 50MW of power. The IPPs will support already existing conventional plants in their respective locations, SEC said in a statement.
The company said it will conduct a competitive process to select a developer or a consortium to develop and operate the plants. SEC will buy the entire output from the plants under a long-term power purchase agreement.
Those interested should submit their bids by June 20, 2016.
SEC is being advised by HSBC Saudi Arabia as financial consultant, DLA Piper Middle East as legal consultant and DNV GL as technical consultant.
Saudi is looking to revive its stalled solar power programme under its newly unveiled Vision 2030 strategy. The kingdom plans to install 9.5GW of renewable energy – including solar and wind – by 2023. The new target accounts for about 14 per cent of the kingdom’s current generating capacity.
“Solar should be the fundamental solution for Saudi Arabia,” Saudi’s deputy economic minister Ibrahim Babelli said during a conference in Dubai last month.