SPPC shortlists three bidders for SAR 8 bn solar PV projects

RENEWABLES-

The Saudi Power Procurement Company (SPPC) shortlisted three bidders for four solar PV projects under the fifth round of the National Renewable Energy Program (NREP), according to a press release. The projects are expected to reel in SAR 8 bn in investments. SPPC received six bids for each project in August and narrowed down the selection to Abu Dhabi Future Energy, SPIC Huanghe Hydropower Development, and Al Jomaih Energy and Water. If selected, the awarded consortiums will sign 25-year Power Purchase Agreements (PPAs) under a build-own-operate model.

The details: The round will add a combined capacity of 3.7k MW to the Kingdom’s renewable energy portfolio. The four solar PV projects include the Al-Sadawi 2k MW, Al-Masa’a 1k MW, Al-Henakiyah2 400 MW, and Rabigh2 300 MW plants.

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INFRASTRUCTURE-

Binyah seals SAR 660 mn contract for a water treatment project in Riyadh: Saudi Real Estate Infrastructure Company (Binyah), a subsidiary of Saudi Real Estate Company (Al Akaria), signed a SAR 660.4 mn, 20-month contract with the Royal Commission for Riyadh City for a water treatment project under the Green Riyadh forestation initiative, the parent company said in a disclosure to Tadawul. The Royal Commission awarded the project to Binyah in August.

DIGITIZATION-

Tadawul-listed Atheeb Telecom secured two projects from Detecon Al Saudia worth a combined SAR 127.7 mn, to provide dedicated internet connection circuit services, it said in a disclosure to Tadawul. The first SAR 104.9 mn project will run for 76 months, while the second, valued at SAR 22.8 mn, will run for 36 months.

CLIMATE-

Local budget carrier flynas partnered with PIF-backed Voluntary Carbon Market Company (VCM) to collaborate on carbon offsetting and environmental conservation, it said in a post on X. Under the partnership, flynas will have access to the carbon credit trading platform, scheduled to launch in November 2024, and it will launch a voluntary carbon offset program that will see participation from the airline’s passengers, Waleed Ahmed, director of Corporate Communications at flynas, was quoted as saying by Economy Middle East.