2024-11-26 06:00:00
SAUDIS SOLAR INVESTMENT $9.3 BLN, 9.2 GW
ENERDATA - 21 November 2024 - The Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for five independent power producer (IPP) projects to be developed in Saudi Arabia, which total 9.2 GW and include CCGT and solar PV power projects.
The projects include the Rumah 1 and 2 and the Nairyah 1 and 2 IPP projects (rated 1.8 GW for each of the four projects), which will use combined cycle gas turbine technology with carbon capture readiness. Commissioning is expected by mid-2028. The 25-year PPAs for these projects were signed with two consortiums: ACWA Power, Saudi Electricity Company (SEC) and Korea Electric Power Corporation (KEPCO) for Rumaih-1 and Nairyah-1, and TAQA, JERA and Al Bawani Capital for Rumaih-2 and Nairyah-2. In addition, SPPC has signed a PPA with a consortium comprising Masdar, KEPCO, and GD Power Development for the 2 GW Sadawi solar PV IPP project, which is expected to be commissioned by mid-2027.
The five projects represent a total investment of SAR35bn (US$9.3bn) and align with Saudi Vision 2030 goals to achieve a balanced energy mix with 50% renewables and 50% gas.
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Earlier:
2024, October, 4, 06:20:00
SAUDI'S SOLAR 4.5 GW
The Saudi Power Procurement Company (SPPC) has launched a tender to procure 4.5 GW of solar and wind energy projects across Saudi Arabia.
2024, September, 30, 06:25:00
SAUDIS DON'T NEED $100
The shift in thinking represents a major change of tack for Saudi Arabia, which has led other Opec+ members in repeatedly cutting output since November 2022 in an attempt to maintain high prices.
2024, July, 3, 06:35:00
SAUDI'S GAS EXPANSION $25 BLN
Saudi Arabia has some of the biggest gas reserves in the world. Development of the Jafurah field, estimated to hold 200 trillion cubic feet of gas, is expected to cost $100 billion and boost the firm’s gas production more than 60% by 2030.
2024, May, 7, 06:55:00
SAUDI'S OIL PRICES UP
Differentials for the flagship Arab Light grade were priced at Platts Dubai/DME Oman +$2.90 per barrel, up from +$2 a barrel in April.
2024, April, 23, 06:55:00
SAUDI'S CRUDE PRODUCTION UP
The data indicated that the Kingdom’s crude exports rose to 6.32 million bpd, reflecting a monthly increase of 0.32 percent.
