EDF, Masdar secure 300 MW project in Saudi Arabia’s second PV tender thanks to bid of $0.01988/kWh

The French energy company said the project will come into operation in 2022. It will sell power to the Saudi Power Procurement Company under a 25-year PPA.

From pv magazine France

France’s power utility, EDF, and UAE-based renewable energy developer Masdar were awarded a 25-year power purchase agreement for a 300 MW solar plant by the Saudi Ministry of Energy in the country’s second tender for large scale solar projects.

The facility will be located in Jeddah and EDF said it will sell power to the Saudi Power Procurement Company (SPPC) at a price of €0.01367/kWh after the Saudi authorities reported the price as $0.01988. “This project also clearly demonstrates our ability to submit extremely competitive offers,” said Bruno Bensasson, executive director at EDF in charge of the Renewable Energies division.

The solar plant will be built with bifacial panels and single-axis trackers, provided by unnamed manufacturers.

In the second round of Saudi Arabia’s renewable energy procurement program, prices hit a new all-time low. The Al Shuaiba IP PV project will sell its electricity at $0.0104/kWh. The tender was held under the country’s National Renewable Energy Program (NREP).

The second round of the program initially drew 250 bidders.

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