MUST-READS

• Floating solar could reach LCOE of $0.053/kWh in Saudi Arabia
  Scientists from King Fahd University of Petroleum and Minerals (KFUPM) in Saudi Arabia have conducted a techno-economic analysis to assess the country’s potential for floating PV (FPV) development and have found that the levelized cost of energy (LCOE) of floating PV project could be as low as $0.053/kWh. The study assessed techno-economic feasibility at three distinct locations with varying climates and topographies: the King Fahad Dam, a gravity dam on Wadi Bisha, 35 km south of Bisha in the ‘Asir Region; the Wadi Namar Dam, located south of Riyadh; and the Hali Dam, situated 14 km east of Keyad in Mecca Province. The scientists reported that the King Fahd and Wadi Hali sites offer greater depth, likely improving cooling and boosting efficiency. Maximum solar irradiation at King Fahd reaches 2.38 MW/m²/year, compared to 2.19 MW/m²/year at Wadi Namar and 2.07 MW/m²/year at Wadi Hali.

• Saudi Arabia’s $1.5B Solar Thermal Project Powers Green Manufacturing

  Saudi Arabia is making a bold move toward decarbonization and industrial sustainability with the launch of the $1.5 billion Ma'aden I initiative. Spearheaded by GlassPoint in collaboration with Saudi Arabia's Ministry of Investment (MISA) and Ma'aden, this project represents the world’s largest industrial solar thermal endeavor, aiming to transform the aluminum supply chain while bolstering Saudi Vision 2030. The initiative begins with the GlassPoint Ma'aden Technology Showcase (GMTS), introducing groundbreaking advancements in solar-to-heat technology. Key innovations include anticlastic polymer membranes and high-performance Niobium mirrors, which have significantly reduced solar field costs by 30% and thermal storage expenses by 50%. These developments are crucial to achieving cost-effective decarbonization in industrial processes.

• Saudi Arabia signs PPA for 1,700MW Solar PV Projects

  The Saudi Power Procurement Company (SPPC) has signed the Power Purchase Agreement (PPA) for 3 Solar IPPs as part of the fifth round of solar projects under the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy. The PPA was signed with the Consortium of SPIC Huanghe Hydropower Development Co. Ltd and EDF Renouvelables S.A. The consortium submitted the price of 5.13228 Halala/kWh (1.36861 USDc/kWh). The PPA was signed the Consortium of Al Jomaih Energy and Water Company, TotalEnergies Renewables. The Consortiums submitted the price of 6.68019 Halala/kWh (1.78138 USDc/kWh).

• TotalEnergies, Aljomaih Secure 300-MW Solar Project in Saudi Arabia

  TotalEnergies SE TTE, Saudi developer Aljomaih Energy and Water Company have signed a 25-year power purchase agreement (PPA) with the Saudi Power Procurement Company related to the 300 megawatt (MW) solar power project, Rabigh 2. This renewable project is a new milestone for TotalEnergies in Saudi Arabia where TotalEnergies is currently building the 119 MW Wadi Al Dawasir solar power plant, which will start operations in early 2025.

• Saudi Arabia signs solar deals with France’s TotalEnergies

  A separate power purchase agreement for the Kingdom’s Al Masa’a solar power plant project was signed between the Saudi Power Procurement Company (SPPC), French state-owned power utility EDF and Chinese State Power Investment Corporation (SPIC). Another agreement was signed between the three sides for the Al Hnakia 2 solar power plant. The investment forum also saw an agreement between Saudi’s Public Investment Fund (PIF), wholly owned subsidiary Saudi Investment Recycling Company (SIRC) and Veolia for the incorporation of waste management and recycling in the Kingdom.

• France’s EDF, TotalEnergies awarded Saudi solar tenders during Macron visit
  TotalEnergies will build an 0.3 gigawatt (GW) solar park in Saudi Arabia, while EDF Renewables will build two solar parks totalling 1.4 GW, as part of a series of deals announced on Tuesday during a visit by French President Emmanuel Macron to Riyadh. The French companies entered into 25-year power purchase agreements with the Saudi Power Procurement Company for the projects, which were awarded on a build-own-operate model as part of the kingdom's fifth renewable tender round.

• Saudi Arabia Solar Photovoltaic Industry Research Report 2024-2029: Saudi Vision 2030 – A Catalyst for Booming Solar PV Industry Amidst Oil Dependency Reduction

  The Saudi Arabia Solar Photovoltaic Market was valued at USD 3.92 Billion in 2023, and is expected to reach USD 44.89 Billion by 2029, rising at a CAGR of 49.87%. The Saudi government has implemented various incentives, such as subsidies, tax benefits, and funding programs, to encourage the adoption of solar energy. These measures reduce the financial burden on businesses and households, making solar PV installations more attractive. Additionally, the decreasing cost of solar technology, driven by advances in manufacturing and economies of scale, is making solar PV systems more affordable. This trend is further supported by ongoing research and development in solar technologies, which enhances efficiency and reduces costs.

• Desert Technologies to build 5GW solar cells and modules plant in Saudi Arabia
  The plant will have an annual nameplate capacity of 5GW, of which 3GW for solar cell capacity and 2GW for PV modules. However, the company did not disclose what technology will be used for the solar cells. PV Tech has reached out to Desert Technologies about it. The project will be located in Jeddah’s Third Industrial City and will leverage “advanced manufacturing technologies that adhere to the latest global quality standards”, according to the company. It added that the capacity produced at the plant will cater to the local market, while boosting the country’s exporting capacity.

• Saudi’s Desert Technologies to establish largest solar panel and cell manufacturing plants

  Saudi Authority for Industrial Cities and Technology Zones, (Modon) signed a contract with Desert Technologies, a leader in renewable energy solutions and the one of the first Saudi company to manufacture and export solar panels, to establish an industrial complex in Jeddah’s third industrial city. The facility will produce solar panels and cells with an annual production capacity of up to five gigawatts (GW) at a total investment of SAR 750 million. It will span an area of 170,000 square meters on a land provided by Modon. The complex includes advanced production lines with a capacity of two GW for solar panels and three GW for solar cells. This makes it one of the largest photovoltaic production centers in the Kingdom.

• How investment in solar capacity is powering Saudi Arabia’s sustainable energy future

  By the end of the decade, Saudi Arabia aims to generate 58.7 gigawatts of renewable energy. This includes 40 GW from solar photovoltaics, alongside 16 GW from wind energy and 2.7 GW from concentrated solar power. In 2024, Abdulaziz bin Salman, the Saudi minister for energy, announced plans to tender new renewable energy projects with an annual capacity of 20 GW. This could potentially lead to a total capacity of 100-130 GW by 2030.

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