ACWA Power, Marubeni shortlisted in 300-MW Saudi solar tender

Solar park. Author: iamme ubeyou. License: CC0 1.0 Universal.

January 5 (Renewables Now) - ACWA Power and a consortium led by Marubeni Corp (TYO:8002) have been shortlisted to develop a 300-MW solar photovoltaic (PV) project in Saudi Arabia.

The bidder shortlisting notification was made on Thursday by the Renewable Energy Project Development Office (REPDO) within Saudi Arabia’s Ministry of Energy, Industry and Mineral Resources (MEIM). 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 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).

REPDO unveiled in November 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.

(SAR 1 = USD 0.267/EUR 0.221)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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