The Saudi Ministry of Energy announced, on Monday, the list of bids nominated for the third phase of renewable energy projects with a total capacity of 1,200 megawatts.
The ministry explained, in a statement published on its website, that this phase consists of 4 independent generation projects (IPP) for solar photovoltaic energy, with a total capacity of 1200 megawatts, divided into two categories.
The ministry indicated that the result of the bids submitted has been subjected to a process of examination and evaluation in accordance with the requirements of the RFP brochure to ensure that they comply with the terms of the brochure, and these bids will subsequently be subject to the procedures required to achieve the requirements of commercial and financial closure.
She stressed that all four projects are required to comply with the requirements of local content, based on the mechanisms identified by the Local Content and Government Procurement Authority, which seeks to enhance the added value of products and services in the national economy.
It noted that the winning bids will sign 25-year power purchase agreements with the Saudi Energy Procurement Company.
The ministry confirmed that the announcement of the list of bids nominated for the third phase of renewable energy projects comes “within the efforts of the Ministry of Energy to achieve the goals of the Custodian of the Two Holy Mosques’ initiative for renewable energy, which is to increase the percentage of renewable energy to reach the optimal mix, raise the efficiency of the electricity sector, and achieve environmental goals by reducing emissions carbon dioxide, as well as achieving economic goals, such as reducing dependence on liquid fuels to produce electricity, working with the private sector to build renewable energy projects, and enabling the local private sector to form global partnerships to gain the experience necessary to participate in achieving the goals of the renewable energy sector, being one of the sectors vitality in (Saudi Vision 2030).