New renewable energy projects were awarded in the presence of HRH Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy and Chairman of the Board of Directors of Saudi Power Purchase Company.
New renewable energy projects
The Wind Energy Project in Dawadmi set a new world record in the cost of electricity production, with a production cost of 1.338 US cents per kWh, the lowest price in the world for producing electricity from wind energy. The Najran solar project also achieved the second lowest cost globally in producing electricity from solar energy, with a production price of 1.097 US cents per kWh.
These projects were awarded. These projects were awarded within the sixth phase of the National Renewable Energy Program, overseen by the Ministry of Energy, with a total capacity of 4,500 MW, and investments in these projects exceeded 9 billion Saudi riyals (US$2.4 billion).
These projects were awarded within the sixth phase of the National Renewable Energy Program, overseen by the Ministry of Energy, with a total capacity of 4,500 MW.
Details of renewable energy projects
Dawadmi Wind Power Project (1500 MW) with a consortium that includes Korea Electric Power Company (KEPCO), Nesma Renewable Energy and Union Water and Electricity Company, at a production cost of 1.338 US cents per kWh.
Najran Wind Power Project (1500 MW)
Najran Solar Power Project (1400 MW) with Masdar UAE, at a production cost of 1.097 US cents per kWh.
Najran Solar Power Project (1400 MW) with Masdar <Darb Solar Power Project (600 MW) with Masdar, at a cost of 1.361 US cents per kWh. Samta Solar Power Project (600 MW) with a consortium of Saudi Electricity Company and EDF, at a cost of 1.487 US cents per kWh.
Ship Solar Power Project (600 MW) with Masdar, at a cost of 1.361 US cents per kWh.
Seven Solar Power Project (400 MW) with a consortium that includes Al Jomaih Energy and Total Energies Renewables, at a cost of 1.507 US cents per kWh.
These projects are an addition to the Saudi Electricity Company and EDF. These projects are an important addition to the National Renewable Energy Program, through which the Kingdom aims to achieve the objectives of Saudi Vision 2030, which includes the transition to a more sustainable and efficient energy mix.
The success of these projects is attributed to the efforts made in facilitating the investment environment, efficient financing and development models, as well as the geographical survey carried out by the Ministry of Energy.
Power Purchasing Organization
The Saudi Power Purchase Company (SPPC), which is responsible for studying, proposing and implementing electricity generation projects, has so far signed power purchase agreements totaling 43.2 GW, out of the 64 GW of projects planned by 2025.
For more details on the organization's activities, please visit the Ministry of Energy's website.
For more details on renewable energy projects in the Kingdom, visit the website.
.For more details on renewable energy projects in the Kingdom, visit.
