Home / NEWS / Saudi Arabia shortlists ACWA power, Marubeni for 300MW solar project

Saudi Arabia shortlists ACWA power, Marubeni for 300MW solar project

by Baset Asaba on Jan 7, 2018

Saudi Arabia’s Renewable Energy Project Development Office (REPDO) has shortlisted Acwa Power and a consortium led by Japanese conglomerate Marubeni Corporation to develop 300MW of solar PV in Sakaka, Al Jouf.

In its announcement, REPDO said it will award the project in January 2018, while the deadline for financial close of the scheme is set for February 2018.

The project will be backed by a 25-year Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC). Meanwhile, the deadline for financial close of the Sakaka project is February this year.

The other members of Marubeni's consortium are Khaled Ahmed Juffali Energy & Utilities Limited and Axia Power Holdings BV.

The solar project will be implemented in Sakaka, Al Jouf, as part of Round 1 of the National Renewable Energy Program (NREP). It will benefit from a 25-year power purchase agreement (PPA) with the Saudi Power Procurement Company (SPPC).

Last year, REPDO revealed that EDF Energies Nouvelles (EDF EN) and Abu Dhabi’s renewable energy company Masdar had made the lowest bid of just SAR 0.06697 (USD 0.0178/EUR 0.0148) per kWh, while ACWA Power came in second with a SAR-0.0878/kWh offer.

At the time, commentators noted that the large gap of more than 0.5 cents between the top two bids perhaps denoted strong regional competition, with Abu Dhabi-based Masdar trying to gain favour over local firm Acwa Power.

However, the Saudi government also made it clear that each bid would be thoroughly evaluated for compliance with the requirements of the RfP including local content mandates before the final shortlisting.

“All eight bids that were submitted have been subjected to a detailed evaluation of material compliance to RFP requirements, including the 30% local content component for Round 1 NREP projects. All companies that have submitted bids for R1 Sakaka PV RFP are invited to participate in future projects of the NREP," stated REPDO.


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