Najran (1.4 GW) PV

Najran (1.4 GW) PV - a Solar Independent Power Producer in Saudi Arabia. Capacity 1.4 GW. Winning consortium: Masdar. LCOE: USD $0.0110/kWh. Status: Preferred bidder.

Country

Saudi Arabia

Procurer

SPPC

City / region

Najran

Capacity

1.4 GW

Status

Preferred bidder

LCOE

USD $0.0110/kWh

Winning consortium

Masdar - equity: 100%

Procurement timeline

• RFP: Nov 2024
• Bid submission: Oct 2025
• Preferred bidder: Oct 2025
• Commercial close: Oct 2025
• Financial close: 2026
• PCOD: H1 2028

Prequalified bidders

R6 multiple PQ · 3 final bids

• Masdar
• TotalEnergies + AlJomaih
• SEC + EDF

Financing

• Capex: USD 900 M

Technical scope

Process: Bifacial mono-PERC + trackers

World 2nd-lowest LCOE ever (1.10c/kWh)

Notes

R6 record. Saudi MOE ranked #2 globally behind Chilean PPA.

Sources

• Masdar
• pv-magazine

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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.