Feb 1 (Renewables Now) - Saudi Arabia expects record low rates for wind and solar in an upcoming tender targeting 700 MW, Bloomberg said, citing energy minister Khalid Al-Falih.
The tender for 300 MW of solar and 400 MW of wind is planned for September, according to the report (www.bloomberg.com/news/articles/2017-02-01/saudis-plan-1st-renewables-bids-with-world-s-lowest-power-cost). A request for qualifications (RfQ) will come later in February.
Saudi Arabia's plan is to offer "motivating" terms in the contracts to bring down the cost of clean power, Al-Falih has said at a press conference today.
Earlier this month, the minister invited the global industry to participate in the first round of the country’s renewables programme. He said at the World Future Energy Summit that between USD 30 billion (EUR 28bn) and USD 50 billion will be invested in local renewable and waste-to-energy projects by 2023.