SPPC signs 2 agreements to purchase 1,500 MW solar power

Logo of Saudi Power Procurement Company (SPPC)

Saudi Power Procurement Company (SPPC), the principal buyer, signed two power purchase agreements (PPAs) for Al Henakiyah and Tabarjal Solar PV with a total capacity of 1,500 megawatts (MW).

In a statement to Argaam, SPPC said that the projects come as part of Round 4 of the National Renewable Energy Program (NREP).

The Al Henakiyah Solar PV project has a total capacity of 1,100 MW. The project’s PPA was signed with a consortium consisting of Abu Dhabi Future Energy Company PJSC (Masdar), EDF Renouvelables, and Nesma Company Ltd. This project will contribute to supplying power to around 190,000 residential units annually.

On the other hand, the Tabarjal Solar PV project has a total capacity of 400 MW. The project’s PPA was signed with a consortium consisting of Jinko Power (HK) Company Limited, Sun Glare Holding Co. Ltd., and Sunlight Energy Holding Co. Ltd. with a levelized cost of electricity (LCOE) of 1.7 cents/kWh (6.40 halalas/kWh).

This project will contribute to supplying power to around 75,000 residential units annually.

The National Renewable Energy Program is supervised by the Ministry of Energy and is an extension of the energy ecosystem’s efforts towards realizing Vision 2030’s objectives, achieving the optimal energy mix, and displacing liquid fuels in the Kingdom’s power sector.

Additionally, the program utilizes vast lands to harness renewable energy resources and increase the share of renewables in the energy mix to around 50% by 2030.