KSA to build PV plant for under $5 cents per kWh
KACST, SEC and Taqnia to develop 50MW project in Al-Aflaj Governate.
Saudi Arabia is to develop a solar photovoltaic power plant at a cost of under $5 cents per kWh.
The King Abdul Aziz City for Science and Technology (KACST) signed a memorandum of understanding on Thursday with the Saudi Electricity Co. (SEC) and Taqnia Energy to launch the Kingdom’s first standalone 50MW photovoltaic solar power project.
Taqnia will design, build, operate and maintain the plant with SEC committed to buying all power generated at an unsubsidised tariff of 0.1875 Riyals ($4.9 cents) per kWh, Arab News reported.
The land area for the plant, called Layla, will be made available at Al-Aflaj Governorate. It is projected to help save over 4 million barrels of diesel and reduce CO2 emissions by 1.7 million tons.
KACST also inked another memorandum to establish a joint research and development center at the SEC distribution sector.
The agreements were signed by KACST President Turki bin Saud bin Mohammad Al-Saud, SEC CEO Ziad Mohammad Al-Sheeha and Taqnia Energy CEO Abdul Rahman Ali Al-Muhanna.