Saudi Arabia has kickstarted the fifth round of its National Renewable Energy Program (NREP), which will add 3.7GW of renewable power capacity. The process is being overseen by the Saudi Power Procurement Company (SPPC), which is responsible for the pre-development, tendering, and subsequent offtake of electricity from the projects. SPPC says that to-date, it has awarded more than 12.6GW of renewable energy capacity under NREP.
The kingdom has ambitious goals to displace liquids from its power generation sector, targeting a 50:50 mix of renewables and gas by 2030 and has made sizeable recent gains on both accounts. MEES understands that Saudi operational renewables capacity now stands at 2.8GW, which is equivalent to 3% of total installed capacity of around 91GW. (CONTINUED - 631 WORDS)