The Saudi Power Procurement Company (SPPC), responsible for the competitive tendering of renewable and conventional energy projects in Saudi Arabia, has entered into an agreement for 400 MW capacity with Tabarjal Solar PV project. This agreement comes as part of Round 4 of the National Renewable Energy Program (NREP).
The Power Purchase Agreement was inked with a Jinko Power-led consortium. Sun Glare Holding Co. and Sunlight Energy Holding Co. are other firms of the consortium.
The project is expected to supply power to 75,000 homes every year and boasts a Levelized Cost of Electricity (LCOE) at 1.70795 USDc/kWh (6.40482 halalas/kWh).
The National Renewable Energy Program (NREP) under the Ministry of Energy, works towards Vision 2030 of the Kingdom and strives for the diversification of the energy mix. Saudi Arabia has set sights on having 50% share of renewables in the energy mix by the end of the decade.