Saudi Arabia locks in world record low prices for solar power
The Middle East nation of Saudi Arabia has set a new global record-low price for large-scale solar, with recent power purchase agreements for a new project selling for just over $US10 per megawatt-hour ($A13/MWh).
The PPAs are linked to the nation’s first renewables project, the 300MW Sakaka power plant in Al-Jouf. It is just one of many in the pipeline, though, with seven renewable energy projects receiving the green light to go ahead.
These new initiatives will be based at Al Madinah, Sudair, Qurayyat, Shuaibah, Jeddah, Rabigh, Rafha and a wind project at Doumat Al Jandal, which will take the nation’s renewable generation capacity to over 4 GW.
13 April 2021
Saudi Arabia looks to have notched up a new record-low price for large-scale solar power, with one of seven projects recently signed up to power purchase agreements contracted to sell electricity for just over $US10 per megawatt-hour ($A13/MWh).
According to local press, Saudi Arabia’s energy minister Prince Abdulaziz Bin Salman announced the new record on Thursday last week at the inauguration of the 300MW Sakaka solar power plant in Al-Jouf, the kingdom’s first renewables project.
At the plant’s launch, Prince Abdulaziz announced that PPAs for seven other renewable projects across a range of regions had also been signed between the Saudi Power Procurement Company and five investment consortiums made up of 12 unnamed Saudi and international companies.
Saudi inaugurates 1st renewable energy power plant
By IANS |
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Saudi Crown Prince unveils new 5-year economic strategy. Image Source: IANS News
Riyadh, April 9 : Saudi Arabia s Crown Prince Mohammed bin Salman has inaugurated the Sakaka IPP PV power plant, the Kingdom s first renewable energy project.
The launch of the Sakaka plant on Thursday, with an output capacity of 300 MW, in northwestern Al-Jouf region represents the kingdom s first steps to utilize renewable energy in the Kingdom the Crown Prince was quoted as saying by the official Saudi Press Agency (SPA).
The opening also witnessed the signing of power purchase agreements for seven other renewable energy projects in a number of regions with 12 Saudi and international companies, Xinhua news agency quoted the SPA report as saying.
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