RIYADH: ACWA Power is among bidders of 1,200 MW Saudi renewable energy projects, consisting of four independent generation projects (IPP), according to the Ministry of Energy.
French Total Solar and ACWA Power are both candidates for the Wadi Al-Dawasir project with a capacity of 120 MW, while ACWA Power and AlFanar Energy Company are candidates for the Laila project with a capacity of 80 MW, under Category A.
ACWA Power and China's JinkoSolar are the candidates for the Al Rass project, which has a capacity of 700 MW, while JinkoSolar and the Abu Dhabi Future Energy Company (Masdar) are candidates for the 300 MW Saad project, under Category B.
CNBC Arabia is reporting that ACWA has won the bid in Category B, although this has not been confirmed by officials.
Bid prices rose dramactically from earlier this year, highlighting how a rise in panel costs is impacting the renewable-energy industry, Bloomberg reported
A Request for Proposal brochure was issued for the two category B projects on April 8, 2020, and the two category A projects on April 22, 2020, and three bids were submitted for each of the four projects during the second quarter of 2021, the ministry said in a statement.
All four projects are required to comply with local content requirements based on the mechanisms identified by the Local Content and Government Procurement Authority, it said.
The winning bids will sign 25 year power purchase agreements with the Saudi Power Procurement Company.