Masdar, a Abu Dhabi energy company, has been awarded two solar photovoltaic (PV) projects, with a combined capacity of 2 gigawatts (GW), under the sixth round of bidding in Saudi Arabia's National Renewable Energy Program (NREP).
The Independent Power
Producer (IPP) projects, for the 1,400-megawatt (MW) Najran plant and the 600MW
Ad Darb facility, will be developed on a build, own, and operate (BOO) basis,
with a 25-year power purchase agreement (PPA) signed with the Saudi Power Procurement
Company (SPPC).
The Ad Darb plant,
which will be located in Jizan Province, is expected to begin commercial
operations in late 2027, with the Najran project, based in Najran Province,
starting commercial operations in the first half of 2028.
Mohamed Al Ramahi,
Chief Executive Officer of Masdar, said: :Masdar is proud to support Saudi
Arabia to achieve its Vision 2030 renewable energy targets. Winning the Najran
and Ad Darb projects marks a significant expansion of our Saudi portfolio, and
is testament to our two decades of experience in developing and operating
utility-scale renewable projects, and our strong track record in the region. We
look forward to develop these projects and contribute to the Kingdom’s
sustainable economic growth.”
Principal Buyer is the
entity responsible for conducting predevelopment studies, tendering power
generation projects, and signing Power Purchase Agreements with project
developers.
To date, the company
has awarded a total capacity of 43.2 GW, with 12.3 GW being already connected
to the grid.
Masdar has secured the
largest capacity in the highly competitive SPPC bidding for three consecutive
years, with other solar projects in development including the 1,100MW Al
Henakiyah project, scheduled to begin commercial operations next year, and the
2,000MW Al Sadawi project, expected to start operation in 2027.
Established in 2006,
Masdar is a clean energy investor, developer and operator, with a global
portfolio capacity of over 51GW and a mandate to increase its portfolio to
100GW by 2030.
Masdar opened an
office in Saudi Arabia in 2022 to support the nation’s clean energy objectives.
Masdar’s operational portfolio in the Kingdom includes the 300 MW Jeddah Solar Power Plant and the 400 MW Dumat Al Jandal Wind Farm, Saudi Arabia’s first wind project and the largest in the Middle East. -OGN/TradeArabia News Service
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