Saudi Arabia is building momentum for its ambitious domestic renewable energy plans with clear progress in 2021 after the Covid-19 pandemic delayed proceedings last year. Riyadh this week announced the shortlisted bidders for the 1.2GW Phase 3 of its National Renewable Energy Program (NREP).
The Ministry of Energy says that it expects to reach commercial and financial closure in the near future. The successful bidders will enter into a 25-year PPA with the Saudi Power Procurement Company (SPPC) as an offtaker. Bids were submitted in Q2. (CONTINUED - 1141 WORDS)