Saudi Arabia to invest $30b-$50b$ in renewable energy

Saudi minister Eng. Khalid A. Al-Falih announced at WFES in Abu Dhabi on January 16th that the first 700MW will come out to tender in "the next few weeks".  Also, he remarked that the 9.5 GW objective is only the beginning, as 30% of the 100 GW installed capacity that SEC will have very soon, will be significantly contributed by renewables.  Read morecontinue reading →

SEC announces qualified companies for AL-JOUF and RAFHA solar PV plants

Saudi Electricity Company (SEC) announced this week the eighteen qualified IPPs for AL-JOUF (20 MW) and RAFHA (80 MW) solar PV power plants.  Among the qualified companies, no surprise to find ACWA (Int´l Company for Water and Power Projects), Enel Green Power, Engie (International Power S.A), EDF, FRV and MASDAR (Abu Dhabi Future Energy Company).  The RFQ is being released this week and we anticipate multiple talks between qualified and non-qualified companies to present winning quotes on January 31st.  See the complete list.continue reading →

Solar and Saudi Arabia

Saudi Arabia is getting ready for the post-oil age by creating a $2 trillion fund.  Crown Prince Salman announced that KSA will sell shares in Aramco’s parent company and transform the oil giant into an industrial conglomerate. Solar will play a major role in the energy transition.  Read morecontinue reading →

MESIA reports strong solar PV forecast for Egypt and Jordan

A report released by the Middle East Solar Industry Association (MESIA) at World Future Energy Summit (WFES) in Abu Dhabi, forecasts a strong year for Egypt in 2016. According to the report, Egypt could connect half a gigawatt  in 2016.  The report also outlines six solar trends for MENA this year: very low LCOE, greater desire for energy independency, growth in the commercial and industrial solar sectors, more distributed PV, strengthening of electrical networks and the added bonus of low oil and gas prices. Read morecontinue reading →

Egypt – $6bn investment opportunity in wind and solar by 2018

According to EFG Hermes recent report, Egypt will need around 8GW of additional energy - 5.5GW of wind power and 2.5GW of solar power. In this report, the investment bank also stated that with the current feed-in tariff scheme there is an opportunity for investment in the renewable energy sector in Egypt of at least $6bn through 2018.  Read morecontinue reading →

Jordan raises solar target to 1,000MW by 2020

The Jordanian Ministry of Energy and Mineral Resources announced recently it will increase its solar energy target by more than 65 % (from 600 to 1,000 MW) by 2020.  500 megawatts are already expected to be connected by the end of next year.  Read morecontinue reading →

ADWEA pre-qualifies 34 companies for the 350 MW solar PV plant

Abu Dhabi Water and Electricity Authority (ADEWA) published on April 26th the pre-qualification list for the 350 MW Solar PV plant in Sweihan, 125 km east of Abu Dhabi.  The list includes 34 companies grouped in three different categories.  Eight companies have been pre-qualified on a sole stand-alone basis and are free to submit a proposal without the need to form or join a consortium.  The remaining 26 companies have been Pre-qualified on a conditional basis. The bids will need to be submitted before September 19th, 2016.  Read morecontinue reading →

Saudi Arabia targets 9.5 GW of renewable energy

Saudi Arabia's Crown Prince Mohammed bin Salman presented on April 25th the Kingdom's transformation program “Saudi Arabia Vision 2030”.  Among other interesting initiatives, the plan includes the firm commitment to implement 9.5 GW of renewable energies.  Read morecontinue reading →

New record low 2.99 c/kWh in Dubai 800MW tender

Dubai keeps breaking records with the most competitive prices for large scale solar PV.   ACWA POWER surprised the industry in 2015 offering 5.84 c/kWh for Phase II (200 MW) of Sheikh Maktoum Solar Park.  Now, just a year after, the consortium leaded by MASDAR and FRV (Fotowatio Renewable Ventures) has offered 2.99 c/kWh for Phase III (800 MW).  Read more  continue reading →

Solar Boom Forecast for Saudi Arabia

As many anticipated, the Saudi Arabian solar market is a reality and will lead the MENA region for the next five to ten years.  We have seen many internal movements in the last few months which anticipate a solid and powerful market to focus on.  The increasing energy needs and job generation objectives will drive this development despite oil prices.  A great opportunity intended mainly for Saudi companies, leaving a door open for international players willing to bring value to the Kingdom and to stay. Read more in Renewable Energy Worldcontinue reading →