SPPC finalizes PPA for 1100 MW Al Henakiyah Solar PV project
The Saudi Power Procurement Company (SPPC) has officially announced the successful completion of a Power Purchase Agreement (PPA) for the 1100 MW Al Henakiyah Solar PV project, which is a part of Round 4 in the National Renewable Energy Program (NREP). This PPA was formalized in collaboration with a consortium comprising Abu Dhabi Future Energy Company PJSC (Masdar) as the Managing Member, EDF Renouvelables as the Technical Member, and Nesma Company Ltd as the Consortium Member. The Al Henakiyah Solar PV project is expected to contribute power to approximately 190,000 residential units each year and boasts a remarkably competitive Levelized Cost of Electricity (LCOE) at 1.68420 USDc/kWh (equivalent to 6.31575 halalas/kWh).
The National Renewable Energy Program is under the supervision of the Ministry of Energy and serves as an extension of the broader energy ecosystem's initiatives, aligning with the goals of Vision 2030. It aims to optimize the energy mix and reduce reliance on liquid fuels in the Kingdom's power sector. The program leverages extensive land resources to harness renewable energy and increase the proportion of renewables in the energy mix to around 50% by 2030.
For additional information about the projects within the National Renewable Energy Program, please visit the following website: http://powersaudiarabia.com.sa