Masdar and Jinko finalised for 1.5 GW of Saudi solar projects

Masdar and Jinko Power have been finalised for the construction of two solar projects in Saudi Arabia with a total capacity of 1.5 GW. Reportedly, the Saudi Power Procurement Company chose the bidders for round 4 solar projects. The larger of the two plans is the 1.1 GW Al Henakiyah solar project, which will be built in western Saudi Arabia’s Medina Province. While Jinko’s proposal is for $ 0.0171 per kWh, the Masdar-led consortium suggested a lower levelized cost of energy of $ 0.0168 per kWh. The Tabarjal solar project in northern Saudi Arabia is proposed with a capacity of 400 MW. When fully operational, the two solar power plants will be able to supply the kingdom with electricity each year for 265,000 residential units.

In May 2023, Masdar inked a joint development agreement with Uzbekistan’s Ministry of Energy and Ministry of Investments, Industry, and Trade to develop 2 GW of renewable energy and 500 MWh of solar, wind, and battery storage projects across the Central Asian country. With 7 GW of solar and 5 GW of wind capacity, Uzbekistan aimed to achieve 25 per cent of its energy needs from renewables by 2030.