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UAE’s Masdar to bid for Saudi renewable energy projects

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Masdar said the new office in Saudi Arabia will look over its existing assets and play a key role in developing future pipeline projects

UAE’s Masdar plans to participate in the forthcoming round 4 tender of Saudi Power Procurement Co.’s 3.3 gigawatts (GW) wind and solar projects, along with its partners, WAM, the UAE state-owned news agency, reported.

The new round will comprise three wind power plants with a combined capacity of 1.8 GW, and two solar parks totaling 1.5 GW, as part of Saudi Arabia’s green energy programme.

The kingdom plans to generate 50 percent of its electricity from clean sources by the end of this decade, targeting 58.7 GW from renewable sources.

Moreover, the world’s biggest oil exporter has pledged to cut its carbon emissions to net zero by 2060, as it plans to invest more than $180 billion to achieve that goal.

According to the statement, Masdar has opened a new office in the kingdom to support its ongoing growth in the country.

Abdulaziz Omar Al Mubarak, general manager of Masdar in Saudi Arabia, said the new office would look over its existing assets and play a key role in developing future pipeline projects.

Masdar is already contributing to Saudi Arabia’s clean energy objectives, with the 400-megawatt (MW) Dumat Al Jandal Wind Farm beginning electricity production last year.

Developed by a consortium of Masdar and EDF Renewables, with Nesma Company, the project will generate clean energy to power 70,000 homes and displace 988,000 tonnes of CO₂ annually when it becomes fully operational.

The Abu Dhabi-based institution is developing the 300-MW South Jeddah Noor Solar photovoltaic plant through the same consortium.

The consortium signed a 25-year power purchase agreement with Saudi Power Procurement Co. last year to design, finance, build and operate the plant in Third Jeddah Industrial City.

Saudi Arabia is also looking to explore developing the potential of the commercial and industrial (C&I) sector for solar power generation.

Therefore, Masdar sees considerable potential to target this segment through Emerge, the joint venture it established with EDF to collaborate on opportunities in distributed solar generation, energy efficiency and street lighting in the UAE and Saudi Arabia.

Emerge is developing multiple off-grid and on-grid projects, which will be streamlined once approved by the Saudi Water and Electricity Regulatory Authority, the statement said.