Saudi exports set to surge as certificates of origin rise by 12% in October 

Saudi exports set to surge as certificates of origin rise by 12% in October 
Saudi exports set to surge as certificates of origin rise by 12% in October 

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Jeddah - Yasmine El Tohamy - RIYADH: Two major solar photovoltaic projects with a total capacity to power 265,000 homes a year have been announced by Saudi Power Procurement Co.

In a post on X, formerly known as Twitter, SPPC declared that it had finalized a deal for the Tabarjal solar PV independent power plant, which boasts a capacity of 400 MW. 

This project is a collaborative venture involving a consortium of leading energy firms, which include China’s Jinko Power, Sun-Glare, and New York-based Sunlight Energy Group. 

The competitive levelized cost of energy bid submitted for the Tabarjal project stands at 6.40482 halalas (1.68420 cents) per kilowatt-hour. 

The project will also power 75,000 residential units annually, with an agreement duration of 25 years. 

Additionally, SPPC has inked an agreement for the Al-Henakiyah solar PV project, which will generate 1,100 MW.  

This initiative will supply power to around 190,000 residential units annually, with an agreement duration of 25 years. 

tasked with the responsibility of securing power and renewable energy in the Kingdom.

Furthermore, the project is undertaken by various renewable energy companies, including UAE-based Masdar, global energy company Electricite de France, and regional conglomerate Nesma & Partners.  

The submitted LCOE for this endeavor is 6.31575 halalas per kWh. 

These agreements are integral components of the Kingdom’s National Renewable Energy program, forming the fourth round of bidding in its solar project implementations.  

Supervised by Saudi Arabia’s Ministry of Energy, the program is part of the comprehensive strategy to meet Vision 2030 goals, which aims to optimize the energy mix and reduce reliance on liquid fuels within the Kingdom’s power sector. 

The program also seeks to capitalize on the region’s land to tap into renewable resources, aiming to boost the proportion of renewables in the energy mix to approximately 50 percent by 2030. 

In October, SPPC announced its approval for Saudi Electricity Co. to commence the execution of the Rabigh Power Plant expansion by adding 1.2 gigawatts combined-cycle units. 

This also comes as part of SPPC’s mandate to continuously evaluate expansions and upgrade opportunities of existing projects to enhance generation capacity, meet electrical system needs, and ensure reliability of power supply. 

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