PVTIME – Recently, China’s State Power Investment Corp (SPIC) and Jinko Power (HK) signed with the Saudi Power Procurement Company (SPPC), the principal buyer, for 25-year Power Purchase Agreements (PPAs).
The Saudi Power Procurement Company signed for 700MW solar plant in Qassim region in the Kingdom of Saudi Arabia with Ar Rass Solar Energy Co., which owned by a consortium led by Water and Energy Works International (ACWA Power), China’s State Power Investment Corp (SPIC) and Water and Electricity Holding Company (WEHC), with a total investment of SR1.7 billion.
The principal buyer also signed for 300MW Saad PV IPP in Saad within Riyadh region in the Kingdom of Saudi Arabia, with a total investment of SR800 million and an LCOE of 5.56 HH/kWh. This PPA was signed with a consortium led by Jinko Power (HK) as a Managing and Technical member, Jinko Power Middle East Holding Co. Ltd and Jinko Power Dhafra Holding Co. Ltd as consortium members.
Saudi Arabia expects to add renewable energy projects with a total capacity of around 15GW in 2022 and 2023 to generate solar power to meet the needs of 180,000 households, and reducing more than 1.75 million tons of carbon dioxide emission per year.
 and Jinko Power (HK) signed with the Saudi Power Procurement Company (SPPC), the principal buyer, for 25-year Power Purchase Agreements (PPAs). The Saudi…){kind=link}