Saudi Arabia turbocharged its renewable power strategy this week, awarding 15GW of contracts in one swoop. This represents the single biggest tranche awarded to date, and equates to 63% of previously awarded renewable capacity. Saudi Arabia has now awarded power purchase agreements (PPA) for 38.7GW of solar and wind capacity as it accelerates towards its target of 100-130GW by 2030 in a bid to end oil burn.
The kingdom plans to award 20GW of renewables each year to reach this target, and this week’s awards put it on course to achieve this for 2025. A PPA for the 700MW Yanbu wind farm was awarded earlier this month, while another 4.5GW of solar and wind was tendered in September and should be awarded in the coming months (MEES, 27 September 2024). (CONTINUED - 1396 WORDS)
