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Yusuf Macun, Partner
May 10, 2017
Markets in MENA with highest PV cumulative installation
through 2021 are UAE, Egypt, Algeria and Saudi Arabia.
MENA PV market, by country, 2016 and 2021 [annual MW, cumulative GW]
Morocco Jordan
2
Saudi Arabia expected to strongly increase PV installation
starting in 2019 to over 1 GW in 2021.
Annual new PV installations forecast for KSA [GWp]
Market sustainability
High case Large population, growing energy demand
1.3
Well-developed IPP framework
First 300 MW PV tender ongoing and second
Low case 1.0 tender (620 MW PV) announced
Goal to diversify from oil and gas
0.8
Roadmap for renewable energy targets
(Vision 2030)
0.6
3
Saudi Arabia provides many suitable sites for solar and
wind power generation.
Detailed Saudi regional suitability for solar and onshore wind power generation1
Resources
Solar radiation (GHI) very high across
Arar Examples for areas
KSA; concentrating technologies (e.g.,
with wind speed
CSP) more viable in western regions
above 6 m/s and
Tabuk up to 89 m/s Minimum wind speed of 5 m/s at 80 m
Hail
height needed for wind to be competitive
with oil-fired electricity generation2
Buraydah Dammam
Several sites fulfill these requirements:
Initial wind simulation model by Vestas
and K.A.CARE shows very attractive
Al-madhinah Riyadh
wind resources in KSA up to 89 m/s,
offering LCOE of below 0.10 USD/kWh
Grid connectivity
Jeddah
For utility-scale generation, adequate
grid access necessary, i.e., proximity to
large cities
However, off-grid sites still suitable for
Khamis
moshait
distributed utility-scale generation,
e.g., to power desalination plants
Large cities
Suitable for solar energy; GHI in kWh/m2: 2,200-2,400 2,400-2,600 2,600-2,800
Source: K.A.CARE renewable resource atlas and Apricum analysis 1) Wind speeds measured at 80m height 2) Assumed at 50 USD/barrel
4
Saudi Arabias Vision 2030 includes ambitious targets and a
program for clean energy that has already been kicked off.
Saudi Arabias Vision 2030 Key objectives of Saudi government
5
27 bidders have qualified as technical or managing member
for the solar RfP.
Each bidder requires a managing and a technical member. A number of other parties are
also rumoured to be interested in joining.
ACCIONA Energia Global S.L. Abu Dhabi Future Energy Company, Canadian Solar
PJSC-Masdar
ACWA Power Enerparc Projects GmbH
Cobra Instalaciones y servicios S.A.
Belectric (RWE Group) Fotowatio Renewable Ventures (FRV)
JGC Corporation
EDF Energies Nouvelles GCL New Energy
Nebras Power
First Solar International Middle East Hanwha Qcells Co.
FZ-LLC Korean Electric Power Corporation
(KEPCO) Iberdrola Renovables Energia S.A.U.
Enel Green Power S.p.A.
SNC-Lavalin Arabia LLC
Trina Solar Limited
International Power SA, Dubai Branch
(ENGIE) Sojitz Corporation
TSK Electronica Y Electricidad
Marubeni Corporation Tenaga Nasional Berhad
Mitsui & Co
6
Financing
Financing requirements and project documentation are reported to be broadly in line with
the SEC 100MW PV IPP tender, thus providing continuity.
7
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