Al Masa'a (1 GW) PV

Al Masa'a (1 GW) PV - a Solar Independent Power Producer in Saudi Arabia. Capacity 1.0 GW. Winning consortium: EDF + SPIC Huanghe. LCOE: USD $0.0137/kWh. Status: Financial close.

Country

Saudi Arabia

Procurer

SPPC

City / region

Hail

Capacity

1.0 GW

Status

Financial close

LCOE

USD $0.0137/kWh

Winning consortium

EDF + SPIC Huanghe - equity: 50% / 50%

Procurement timeline

• RFP: Feb 2024
• Bid submission: Oct 2024
• Preferred bidder: Oct 2024
• Commercial close: Dec 2024
• Financial close: Early 2025
• PCOD: Q2 2027

Prequalified bidders

23 PQ · 3 final bids

• EDF + SPIC
• Masdar-led
• ACWA-led

Financing

• Capex: USD 700 M
• Lenders: Standard Chartered, SMBC, MUFG

Technical scope

Process: Bifacial + trackers

EDF+SPIC won Al Masa'a + Al Henakiyah 2 (1.4 GW combined)

Notes

R5 Hail project.

EPC contractor: SPIC Huanghe / PowerChina

Sources

• EDF

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Part of the GulfInfra · GCC Infrastructure Library - a free open-source benchmark of 136 public-private partnership procurements across the GCC. Methodology: how we build this.