Solar prices in Saudi Arabia are dropping sharply again, falling to their lowest levels since 2021 in the country’s latest tendering round. The Saudi Power Procurement Company (SPPC) this week announced the shortlisted bids for the four solar plants which form Round 5 of the National Renewable Energy Program (NREP). The bids are the lowest-priced submitted since Round 2 in 2021, as solar prices continue to trend down.
The 3.7GW NREP Round 5 was launched in November 2023, with 23 firms prequalified as “managing members” (potential project leaders) and “technical members” (MEES, 17 November 2023). While the Ministry was still examining submitted bids for Round 5, it last month launched the 4.5GW Round 6 (MEES, 27 September). With the Ministry of Energy targeting more than 100GW by 2030, it is looking to advance multiple rounds in parallel as it accelerates the pace of its renewable energy rollout. (CONTINUED - 473 WORDS)
