The solar projects will contribute a combined capacity of 5,500MW to the national grid. Credit: MAXSHOT.PL / Shutterstock.

The Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for three solar photovoltaic (PV) projects with a capacity of 5.5GW in Saudi Arabia, Zawya has reported.

The PPAs were signed with a consortium comprising Acwa Power, Badeel—a subsidiary of the Public Investment Fund, and Aramco Power, a Saudi Aramco subsidiary.

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The projects include Haden Solar PV and Al-Muwaih Solar PV, both situated in Makkah Province with capacities of 2GW each, and Al-Khushaybi PV in Qassim province, boasting a 1.5GW capacity.

Haden Solar PV project offers a levelised cost of electricity (LCOE) of 1.58762 cents/kilowatt hours (kWh), while Al-Muwaih Solar PV’s LCOE stands at 1.60852 cents/kWh. Al-Khushaybi PV’s LCOE is slightly higher at 1.67289 cents/kWh.

The new projects are components of the National Renewable Energy Programme, managed by the Energy Ministry.

Saudi Arabia plans to tender new renewable energy projects with a total capacity of 20GW annually from 2024.  

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The goal is to achieve between 100GW and 130GW by 2030, contingent on the growth of electricity demand.

The renewables programme has so far awarded 21 projects with a total capacity of 19GW, including the newly signed agreements.

The current status of these projects is diverse: seven projects with a 4.1GW capacity are grid-connected, eight projects totalling 8.2GW are under construction, and six projects with a 7GW capacity are nearing financial closure.

Since the beginning of 2024, six new renewable energy projects have been tendered, contributing a total capacity of 6.7GW.

SPPC also announced plans to tender additional capacities during 2024 to meet the 20GW annual target.