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From Electrek: Solar electricity at 1.99¢/kWh? Saudi government offering ‘motivating...

Discussion in 'News from Electrek.co' started by RSSFeed, Feb 21, 2017.

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    Solar electricity at 1.99¢/kWh? Saudi government offering ‘motivating terms,’ expecting ‘record bid’

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    Saudi Arabia has officially launched a request for proposals (RFP) for 300MW of solar power – the RFP sits at the front end of a 9.5 GW solar rollout by 2023. The proposed project’s site has gone through full pre-development work with those site assessments will be made available to qualified parties. Bid due date is March 20th.

    Earlier this month, Energy Minister Khalid Al-Falih said that “the terms on renewable contracts will be motivating so that the cost of generating power from these renewable sources will be the lowest in the world.” The previous lowest bid was by a Japanese-led group in Au Dhabi for 2.3¢/kWh as part of a ‘side bid’ of 1,170MW.

    As we saw in India’s recent bids, government support and intelligently designed programs will lead toward record low prices when expectations scale to the multi-gigawatt level.

    With the continued increases in solar panel efficiency, and falling solar module and utility-scale power plants, we expect that someone will bid 1.99¢/kWh or lower.

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