ACWA Power wins the first ever Utility Scale Renewable Energy project in Saudi Arabia

ACWA Power wins the first ever Utility Scale Renewable Energy project in Saudi Arabia
  • Record-Breaking Tariff Achieved for the 300 MW PV Project
  • A 25-year PPA contract was awarded to ACWA Power at a new world record tariff of 8.781 halalas/kWh (US Cents 2.3417/kWh)
  • Located at a site at Al Jouf spanning over six square kilometers, Skaka plant of an investment value of c. SR 1,132 million (c. US $ 302 million) will generate 300 MW

ACWA Power, the Saudi, global leader in developing, constructing and operating power generation and desalination water plants in 11 countries, has won Skaka IPP PV solar project, the first utility scale Renewable Energy plant at the oil capital, the Kingdom of Saudi Arabia. This plant is the first of what will be a series of procurement within the visionary and ambitious Saudi national renewables program aiming to produce 9.5 GW of renewable energy by 2023 as a first phase. The 25-year Power Purchase contract was awarded for ACWA Power at a new world record tariff of US Cents 2.3417/kWh (8.781 halalas/kWh).

Located in Al Jouf at a site spanning over six square kilometers, Skaka plant of an investment value of c. US $ 302 million (c. SR 1,132 million) will generate 300 MW.

Abunayyan added that winning the Skaka solar project in the Kingdom is a proud to our record of successes and achievements in developing and implementing pioneering projects in the renewable energy sector in UAE, Jordan, Egypt, Morocco and South Africa.

 

Abunayyan praised the impeccable standard of professionalism, transparency and integrity showed by Renewable Energy Projects Development Office (REPDO) throughout the procurement process right from prequalification through to final selection and award not only in the quality of specification and documentation but in implementing each step, to ensure the highest standards of neutrality and surplus focus on compliance and competitiveness to give confidence to all participants not only on this procurement itself but thus setting the template for all future procurements of the major programme.

The Ministry of Energy, Industry and Mineral Resources REPDO selected ACWA Power as the most competitive compliant offer from submissions made by consortiums of eight local and international bidders.