A Masdar-led consortium, together with GD Power of China and Korea Electric Power Corporation (KEPCO), has won the Al Sadawi Independent Power Producer (IPP) project in Saudi Arabia.
The solar photovoltaic plant, with a capacity of 2,000 MWac, will be located in the Sadawi Region and is part of the final phase of the Saudi government’s National Renewable Energy Program (NREP).
This development follows Masdar’s competitive pricing in the bidding process. In 2023, the Saudi Power Procurement Company (SPPC) shortlisted Masdar’s consortium, which offered a price of $0.0129/kWh. It narrowly edged out a competing bid from SPIC Huanghe Hydropower and EDF Renouvelables, priced at $0.0131/kWh.
The Al Sadawi project supports the Kingdom’s broader environmental and energy goals under the Saudi Green Initiative. It is also a major progress toward achieving Vision 2030, which aims for 50% of Saudi Arabia’s electricity to come from renewable sources.
“Masdar is actively committed to pioneering energy and helping accelerate the Saudi Green Initiative and Vision 2030,” the company stated on LinkedIn.
Based in the UAE, Masdar is a leader in global renewable energy projects. Its participation in Al Sadawi highlights its dedication to advancing clean energy across the Middle East.
Meanwhile, GD Power and KEPCO bring their extensive experience in large-scale energy developments to the project, which requires massive execution.
Saudi Arabia’s focus on solar energy has intensified in recent years. The Kingdom has attracted some of the world’s lowest solar energy tariffs, further cementing its reputation as a key player in renewable energy investment.
The Al Sadawi project is expected to strengthen investor confidence in the Saudi renewable energy sector.
It will also enhance the country’s energy mix while providing a reliable, sustainable power supply for its growing economy.
