Recently, the Saudi Power Procurement Company (SPPC) announced that it has signed two project power purchase agreements (PPA) in the fourth round of the Saudi National Renewable Energy Program (NREP) with two consortiums.

SPPC and a consortium led by Jinko Power (HK) Company Limited, a wholly-owned overseas subsidiary of Jinko Technology, signed a 25-year PPA for the Tabarjal photovoltaic power generation project. The consortium participants are Sun Glare Holding Co. and Sunlight Energy Holding Co. At this point, Jinko Technology’s projects in hand in Saudi Arabia have reached 700MW.

The project has an installed capacity of 400MW and can power approximately 75,000 residential units per year, with a levelized cost of electricity (LCOE) of 1.70795 USDc/kWh.

SPPC signed a PPA for the Al Henakiyah photovoltaic power generation project with a consortium composed of Masdar, EDF Renewable Energy Company and Nesma. The project has an installed capacity of 1.1GW. The project will power approximately 190,000 residential units annually, with an LCOE of 1.68420 USDc/kWh. The project is expected to be closed for financing in early 2024 and connected to the grid for power generation in 2025.

In order to promote local economic development, at least 19% of the equipment, materials and services during the construction phase of the project will be provided by Saudi companies. In addition, Saudi employees will account for 50% of the total project staff during the first five years of operation. This proportion will rise to 75% over the entire operational life of the project. Editor/Xing Wentao