Sudair 1.5 GW PV

Sudair 1.5 GW PV - a Solar Independent Power Producer in Saudi Arabia. Capacity 1.5 GW. Winning consortium: ACWA + Badeel + SAPCO. LCOE: USD $0.0124/kWh. Status: Operational.

Country

Saudi Arabia

Procurer

SPPC / PIF

City / region

Sudair Industrial City (Riyadh)

Capacity

1.5 GW

Status

Operational

LCOE

USD $0.0124/kWh

Winning consortium

ACWA + Badeel + SAPCO - equity: ACWA 35.01% / Badeel 34.99% / SAPCO 30%

Procurement timeline

• RFP: 2020
• Bid submission: 2020
• Preferred bidder: Mar 2021
• Commercial close: Apr 2021
• Financial close: Aug 2021
• PCOD: 2024

Prequalified bidders

Direct nego

• ACWA + Badeel + SAPCO (sole)

Financing

• Capex: USD 906 M (SAR 3.4bn)
• Debt: USD 680 M
• Lenders: Mizuho, Riyad Bank, KDB, Standard Chartered
• Tenor: 28-yr soft mini-perm

Technical scope

Process: Bifacial mono-PERC + trackers

World #2 LCOE at award. PIF 70% RE programme flagship

Notes

First PIF-allocation deal.

EPC contractor: L&T

Sources

• ACWA Power FC
• PIF

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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.