📋 Tender Overview
Scope of Work:
Construction of 2,000MWac Ar Rass 2 new solar PV Independent Power Producer (IPP) Project.
Description:
Financial close for this project is expected by the third quarter of 2023. The solar project is part of the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy, with PIF mandated to develop 70% of NREP’s target capacity. The new project will be jointly owned by Badeel and ACWA Power, a leading developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide.
The debt financing is provided by a consortium of local, regional and international banks including Banque Saudi Fransi, Mizuho Bank, Riyad Bank, Saudi National Bank, Standard Chartered Bank, Saudi Awwal Bank and HSBC for a period of 27.75 years. The prestigious multinational engineering firm Larsen & Toubro (L&T) assumes the role of the Engineering, Procurement, and Construction (EPC) contractor for this ambitious project and has once again elected to engage PVH for its state-of-the-art solar tracking solutions.
Offtaker:
Saudi Power Procurement Company (SPPC)
SEC Headquarter, Tower C
Riyadh, Saudi Arabia
Tel: +966 118077402
Fax: +966 (11) 807 8682
Email: info@spb.com.sa
https://www.spb.com.sa/
Other Owner:
ACWA Power
Building 1, Ground Floor, Business Gate Office Complex, Airport Road, P.O. Box 22616 Riyadh-11416
Kingdom of Saudi Arabia
Tel: +966 11 2835555
Fax: +966 11 2835500
https://acwapower.com/
