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Bidding for a Saudi Arabian Solar Project Hit a Record Low Price of $0.0104/kWh

Release date:2021-04-12 Source:Raytech Pageviews:-

The price of the 600MW Al Shuaiba Solar IP project is at an all-time low. The project participated in the second round of renewable energy procurement in Saudi Arabia.

The project would sell electricity at a world-record low of $0.0104 per kWh. The project was selected by the Ministry of Energy in the second round of procurement plans under the framework of the National Renewable Energy Project (NREP).

3.6GW of power generation refers to the cumulative installed capacity allocated through the first two rounds of the scheme, including the Sakaka solar power plant, which will be connected to the grid in November 2019, and the 1.5GW Sudair project, which is being developed directly in consultation with the Saudi authorities.

"More renewable energy projects will be developed across Saudi Arabia, and we will announce them when the time comes," the Crown Prince said. But he did not provide further details on the results of the second round.

The second round of procurement initially attracted 250 bidders. In July, The Saudi Arabian Renewable Energy Project Development Office (REPDO) said it had reduced the number of bidders to 60, including 28 based in Saudi Arabia.

Ningbo Raytech New Energy Materials Co., Ltd. specializes in Double Glass and Bifacial PV Modules Manufacturing. The company has independent product R&D teams, national key laboratory and 1.2GW full-automatic manufacturing line. Raytech Double-glass modules come with 12-year product warranty and 30-year performance warranty (2 years and 5 years longer than industry's standard product / performance warranty respectively).

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