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  • KSA and it’s summer power surge challenge
     

    In terms of oil consumption used for its electricity sector Saudi Arabia matches the entire oil consumption of Italy, Spain or Turkey. The kingdom’s oil for power use spikes over 1 million barrels per day in summer to generate power and water. 

     
  • Saudi Arabia’s Capex Super Cycle – Goldman Sachs
     

    In its informative August 14, 2024 Briefing Insight entitled “Only a quarter of Saudi Arabia’s $1 trillion capex plan will go into oil” Goldman Sachs’ analyst team examines the Kingdom’s projected capital expense spending to 2030.

     
  • Saudi Solar Power capacity picking up speed
     

    GlobalData predicts that, at its current pace, Saudi Arabia’s renewable power capacity could increase at a compound annual growth rate (CAGR) of 40.1% between 2023 and 2030, to reach 31.5 GW by 2030 and 63.1 GW by 2035. 

     
  • Saudi Green Lights Three Solar Projects Totaling 5.5 GW
     

    The Saudi Power Procurement Company signed power purchase agreements for solar projects with a combined capacity of 5.5GW.  The projects include the Haden solar PV plant (2GW), the Al-Muwaih Solar PV plant (2GW) in the Mecca Province, and the Al-Khushaybi PV project (1.5GW) in the Qassim Province.

     
  • MENA’s Renewable Energy Promise
     

    Saudi Arabia and other GCC countries are in a position to become, “not just a major source of renewable energy, but also a central and indispensable player in the global energy transition, uniquely able to balance supply and demand for all types of energy, both hydrocarbons, and renewables.”

     
  • “The Clean Hydrogen Economy and Saudi Arabia”: A Roadmap to Energy Leadership
     

    Faculty and researchers from King Abdullah University of Science and Technology (KAUST) and King Abdullah Petroleum Studies & Research Center (KAPSARC) have unveiled a new publication: “The Clean Hydrogen Economy and Saudi Arabia.” 

     
  • U.S. and Saudi Arabia enhance energy cooperation agreement
     

    Building on the Partnership for Advancing Clean Energy Agreement signed in Jeddah on July 15, 2022, Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy of Saudi Arabia, met with U.S. Secretary of Energy Jennifer Granholm in Riyadh to set a detailed timeline for collaborative projects.

     
  • Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
     

    In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.

     
  • Biden’s Oil Boom
     

    Reuters reports that during the Biden administration not only has oil production hit record highs but energy company profits, dividends, drilling permits, jobs and energy exports are all up.

     
  • Ramadan Fasting Projected to Begin March 11, Muslims Worldwide Prepare
     

    Based on the Islamic lunar calendar, the dates for Ramadan move through the year which can result in significantly different daily fasting periods depending on where you live. Since there are 12 lunar months superimposed over 12 solar months, Ramadan “moves back” about 11 days per solar year.

     

MUST-READS

  • Saudi Arabia’s 3.7 GW solar tender attracts lowest bid of $0.0129/kWh

    Saudi Power Procurement Co. (SPPC) announced this week the shortlisted bidders for the final phase of the fifth round of the Saudi Arabian government's National Renewable Energy Program (NREP).  For the 2000 MW Al-Sadawi Solar PV IPP Project, the shortlisted bidders are a consortium comprising UAE-based Masdar and Korea Electric Power Corporation (KEPCO), which offered a price of $0.0129/kWh, and a consortium formed by China-based SPIC Huanghe Hydropower Development Co., Ltd. and France-based EDF Renouvelables, which submitted a price of $0.0131/kWh.

  • Saudi Arabia announces Shortlisted Bidders for 3,700 MW Round 5 Solar Projects

    The Saudi Power Procurement Company (SPPC) has announced the Shortlisted Bidders for the fifth round of solar projects under the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy. The projects will attract investments exceeding 8 billion Saudi riyals. Each will be developed on a build, own, and operate (BOO) basis by a project company, which will be 100% owned by the successful bidder. Furthermore, each project company will enter into a 25-year power purchase agreement with SPPC.

  • Saudi Arabia Releases Next Round of Tenders For Wind And Solar Projects

    Through the NREP, Saudi Arabia is pursuing a structured plan to diversify local energy sources. Since the start of the program, projects with a total capacity of 19 GW (19,000 MW) have been awarded so far. Further tenders, such as the tender for new wind and solar parks announced in September, are intended to give the expansion an additional boost. The aim is to generate 50 percent of electricity from renewable energies by 2030.

  • Saudi companies secure $3.2bln funding for 5.5GW solar projects

    A consortium comprising Saudi-listed ACWA Power, the Water and Electricity Holding Company (Badeel), a wholly owned company of PIF and Saudi Aramco Power Company (SAPCO), a wholly owned unit of Aramco, has secured financial close on 5.5 gigawatt (GW) solar PV projects worth 12 billion Saudi riyals ($3.2 billion).

  • Saudi Arabia secures funds for 5.5GW solar projects

    The developers of solar power projects worth SAR12 billion ($3.2 billion) with a combined output of 5.5 gigawatts (GW) in Saudi Arabia have secured financing for their projects. Saudi-listed Acwa Power, Water and Electricity Holding Co (Badeel), a Public Investment Fund (PIF)-owned company, and Saudi Aramco Power Co (Sapco), a wholly-owned subsidiary of energy major Aramco, have reached financial close for the Haden, Muwayh and Al Khushaybi projects.

  • Saudi Arabia launches 3 GW solar tender

    SPPC has launched the sixth round of the Saudi Arabian government's National Renewable Energy Program (NREP). It has issued an RFQ in relation to 3 GW of solar capacity across four projects. One facility will have a capacity of 1.4 GW (AC) near Hima in Najran province, in addition to a second 600 MW (AC) plant near Ad Darb, Jizan province. SPPC is also seeking to assign a 600 MW (AC) project planned in Jazan and a 400 MW (AC) project near Al Sufun, Hail province.

  • Can Saudi Arabia’s solar manufacturing initiative be a game changer?

    Saudi Arabia is actively developing its solar power capacity through various projects. In July, the Kingdom’s Public Investment Fund (PIF) announced partnerships with China’s JinkoSolar and TCL Zhonghuan, leading producers of solar modules and silicon wafers, along with wind turbine manufacturer Envision Energy. These collaborations will introduce 30GW of solar PV manufacturing capacity – from ingots to modules – to Saudi Arabia, supporting the goal of localizing 75 percent of renewable energy components by 2030, as outlined in the National Renewable Energy Program.

  • ACWA Power locks in funds for 5.5 GW of solar in Saudi Arabia

    ACWA Power Co (TADAWUL:2082) has secured SAR 9.7 billion (USD 2.6bn/EUR 2.33bn) in financing from a consortium of local and international banks for the construction of three large-scale solar power plants in Saudi Arabia with a combined capacity of 5.5 GW.

  • Saudi Arabia is building world’s largest solar-storage microgrid

    Saudi Arabia is building a 400-MW solar microgrid backed by 1.3 GWh of energy storage capacity to ensure clean energy supply for the Red Sea Project on the west coast of the Kingdom. Located in a 28,000-sq-km area in Tabuk province between the cities of Umluj and Al-Wajh, the project is being developed by Red Sea Global, a company owned by Saudi Arabia's Public Investment Fund (PIF).

  • ACWA Power commissions 700-MW solar park in Saudi Arabia

    The solar plant located in Ar Rass city, Qassim province, north of the capital Riyadh "is now online and has started power generation" after receiving the commercial operation certificate from the Saudi Power Procurement Company (SPPC), the developer said in a stock market filing.