Shortlisted bids in Saudi Arabia’s latest solar tender have jumped significantly on the lowest price recorded in the country’s previous renewables programme, reflecting the hikes in PV equipment costs in recent months.
A consortium that is developing Saudi Arabia’s largest solar project has reached financial close for the plant and has secured the backing of state oil producer Saudi Aramco.
Solar developer ACWA Power has secured a total US$114 million from financial institutions to fund the construction of what it claims will be Egypt’s largest private solar plant.
French energy major Total has signed an agreement with Iraq’s Ministry of Oil to develop a host of energy projects in the country, including 1GW of solar PV.
Saudi Arabian developer ACWA Power has signed a US$125 million facility that will serve as a funding source to support the growth of its green energy portfolio.
EPC firm Sterling & Wilson has completed its first solar PV project in Oman, a 125MW DC plant using bifacial panels, with the India-headquartered firm entering its 10th gigawatt of projects worldwide.
Energy Ministry’s roadmap would invest US$23bn to unlock a solar boom by 2030, pushing PV generation share to peaks of 80% and positioning Middle Eastern state as ‘world leader’.
