Saudi Arabia launches bidding for four new solar projects

Saudi Arabia aims to produce 9.5 gigawatts of renewable energy under its Vision 2030 plan. (Shutterstock)
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Updated 10 January 2020
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Saudi Arabia launches bidding for four new solar projects

  • The first batch of projects will target smaller firms

LONDON: Saudi Arabia has kicked off the bidding process for four major solar projects capable of generating 1,200MW as the Kingdom seeks to reduce its reliance on fossil fuels.

The Renewable Energy Project Development Office of Saudi Arabia’s Ministry of Energy said it had issued the requests for qualification (RFQ) for the third round of the Kingdom’s National Renewable Energy Program (NREP).

The first batch of projects will target smaller firms and will include the Layla 80 MW solar PV and the Wadi Al Dawaser 120 MW solar PV projects.

The second batch will include the larger Saad 300 MW solar PV and Ar Rass 700 MW solar PV projects. 

Renewable Energy Projects Development Office head Faisal Alyemni said the work will carry a minimum requirement of 17 percent local content as calculated by the Local Content and Government Procurement Authority.

Launched in 2017, REPDO tendered the first round of renewable energy projects which included Sakaka 300 MW solar PV project, now connected to the national electricity grid, and Dumat Al Jandal 400 MW wind project, which is currently under construction. 

The second round launched last July comprised of six solar PV projects amounting to 1,470 MW. 

Interested bidders have until Jan.20 and Feb. 3 to submit proposals for categories B and A respectively. 

Developing a thriving renewable energy industry is a central plank of the Saudi Vision 2030 economic and social blueprint with an initial target of generating 9.5 gigawatts of renewable energy. The plan also envisages the use of public private partnerships and the gradual liberalization of the fuels market.


Closing Bell: Saudi main market closes the week in red at 10,526 

Updated 25 December 2025
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Closing Bell: Saudi main market closes the week in red at 10,526 

RIYADH: Saudi equities ended Thursday’s session modestly lower, with the Tadawul All Share Index slipping 14.63 points, or 0.14 percent, to close at 10,526.09.    

The MSCI Tadawul 30 Index also declined 3.66 points, or 0.26 percent, to 1,389.66. In contrast, the parallel market outperformed, as Nomu jumped 237.72 points, or 1.02 percent, to close at 23,430.93.  

Market breadth on the main market remained tilted to the downside, with 156 stocks ending lower against 99 gainers.    

Trading activity eased further, with volumes reaching 80.46 million shares and total traded value amounting to SR1.66 billion ($442 million).    

On the movers’ board, Saudi Industrial Export Co. led the gainers, rising 6.6 percent to SR2.10, followed by Consolidated Grunenfelder Saady Holding Co., which advanced 6.43 percent to SR9.60.    

Raoom Trading Co. climbed 4.36 percent to SR61.05, while Astra Industrial Group gained 4.35 percent to close at SR139. Riyadh Cables Group Co. added 3.77 percent to end the session at SR135.00.    

On the downside, Methanol Chemicals Co. topped the losers’ list, falling 5.96 percent to SR7.41.  

Flynas Co. retreated 5.43 percent to SR61.00, while Leejam Sports Co. dropped 5 percent to close at SR100.80.    

Alramz Real Estate Co. slipped 4.64 percent to SR55.50, and Almasane Alkobra Mining Co. declined 4.55 percent to SR84.00.  

On the announcement front, ACWA Power said it has completed the financial close for the Ras Mohaisen First Water Desalination Co., a reverse osmosis desalination project with a capacity of up to 300,000 cubic meters per day, alongside associated potable water storage facilities totaling 600,000 cubic meters in Saudi Arabia’s Western Province.    

The project was financed through a consortium of local and international banks, with total funding of SR2.07 billion and a tenor of up to 29.5 years, while ACWA Power holds an effective 45 percent equity stake.  

Shares of ACWA Power ended the session at SR185.90, up SR0.2, or 0.11 percent.     

Meanwhile, Consolidated Grunenfelder Saady Holding Co. announced the sign-off of a customized solutions project with Saudi Aramco Nabors Drilling Co., valued at SR166.0 million excluding VAT.    

The 24-month contract covers the sale and maintenance of field camp facilities, with the financial impact expected to begin from the first quarter of 2026.