Saudi Arabia's 1.5GW PV Mega Project: JinkoSolar, Masdar and Others Shortlisted!
Recently, the Saudi Power Procurement Company (SPPC) announced the list of shortlisted bidders for the 1,100MW Al Henakiyah solar PV project and the 400MW Tabarjal solar PV project.
The two projects will attract investments totaling more than SAR 4 billion ($1.06 billion) and will supply electricity to about 265,000 homes annually
Here is the Al Henakiyah photovoltaic project:
Bidder No. 1: Abu Dhabi Future Energy Company (Masdar), EDF Renewable Energy Company, Nesma Ltd. consortium; LCOE of 6.31575 halaal/kWh (1.68420 cents/kWh):
Bider No. 2: JinkoSolar (Hong Kong) Co. Ltd, Sun Glare Holding Co. Ltd, Sunlight Energy Holding Co. Ltd., LCOE: 6.42126 Hala/kWh (1.71234 cents/kWh).
Tabarjal Solar Photovoltaic Power Project:
Bidder No. 1: a consortium of JinkoSolar (Hong Kong) Limited, Sun Glare Holding Co. Ltd. and Sunlight Energy Holding Co. Ltd.; LCOE of HAL 6.40482/kWh (1.70795 cents/kWh);
Bidde
JinkoSolar is undoubtedly a deep participant in this market, with an early layout. With its technological advantages and excellent product quality, JinkoSolar has become the frontrunner in the Saudi PV market and has harvested a number of large orders. 2022, during the inaugural China-Arab Summit, JinkoSolar signed a Memorandum of Understanding (MOU) with ACWA Power, a Saudi Arabian power developer, to supply the latter with 4GW of brand new, high-efficiency Tiger Neo modules for its project development and construction. for its project development and construction.
In addition to increasing module exports in Saudi Arabia, JinkoSolar is also getting involved in the end-use power plant sector. In January, JinkoSolar announced that it had been awarded a contract to develop a 300 MW Saud PV solar IPP project under Saudi Arabia's National Renewable Energy Program (NREP) III.
r No. 2: Consortium of Abu Dhabi Future Energy Company (Masdar), EDF Renewable Energy Company, Nesma Company Limited; LCOE of Hala 7.25967/kWh (1.93591 cents/kWh). Details are shown below:
Since 2017, Saudi Arabia has launched the National Renewable Energy Program (NREP)) as an integral part of Vision 2030, with the goal of transforming the country's energy mix for power generation to achieve a 50% renewable energy share by 2030.
Since 2017, Saudi Arabia has launched the National Renewable Energy Program (NREP)) as an integral part of Vision 2030, with the goal of transforming the country's energy mix for power generation to achieve a 50% renewable energy share by 2030.
Solar energy development "hot spot", imported modules from China this year has nearly 7GW
In December 2022, the Saudi Ministry of Energy's new energy project bidding has entered the fourth round. This round of photovoltaic project bidding, including the above introduction of 1100MW Al Henakiyah solar photovoltaic project and 400MW Tabarjal solar photovoltaic project.
The projects, which will attract more than SAR ($1.06 billion) in investment, will each be developed by a project company on a build, hold, and operate (BOO) basis and will be 100% owned by the winning bidder. In addition, each project company will enter into a 25-year power purchase agreement with the SPPC.
Under the supervision of the Saudi Ministry of Energy, the SPPC is responsible for the pre-development of the project, bidding, and subsequent power offtake. To date, SPPC has signed over 11GW of renewable energy projects under the NREP.
The Middle East PV market is known for its "big projects", and has become a hotbed of competition for many international PV companies in recent years.
At the same time, shipments of modules, inverters, racking and other PV power generation equipment have also increased significantly in this region. Taking modules as an example, InfoLink data shows that from January to July 2023, the Middle East market cumulatively imported about 6.9GW of Chinese PV modules, a year-on-year increase of 42%.
The main sources of demand in the Middle East are mainly Saudi Arabia, UAE and Israel, of which Saudi Arabia grew rapidly in the fourth quarter of last year and has imported 3.2 GW of Chinese modules so far this year, accounting for about 46% of the demand in the Middle East region. Demand is growing rapidly, and it is expected to maintain long-term and stable demand in the future under the continuous promotion of a number of large-scale ground-based projects.