EDF Renewables and SPIC HHDC Consortium wins bid for two solar IPP Projects in Saudi Arabia with 1,400 megawatt capacity

December 06, 2024

EDF Renewables and SPIC HHDC Consortium wins bid for two solar IPP Projects in Saudi Arabia with 1,400 megawatt capacity

Consortium led by EDF Renewables signs Power Purchase Agreement to develop, finance, build and operate 1,400-megawatt (MW) projects in KSA after submitting competitive bid
Al Masa’a solar project with a capacity of 1,000 MW and Al Henakiyah2 Solar Plant 400 MW are part of the Round 5 launched by the Saudi Power Procurement company (SPPC)
Projects are expected to power over 240 thousand homes per year and displace over 2.7 million tons of CO2 annually

Riyadh, December 5th, 2024: EDF Renewables has signed a Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC) during an official signing ceremony held in Riyadh in the presence of HRH Prince Abdulaziz bin Salman Al Saud, Minister of Energy of Saudi Arabia, Emmanuel Macron, President of Republic of France, HE Majid bin Abdullah Al Qasabi, Minister of Commerce of Saudi Arabia, Agnes Pannier-Runacher, Minister of Ecological Transition, Energy, Climate and Risk Prevention in France witnessing, and Beatrice Buffon, EDF Group Vice-President, International Division, and Chairwoman & CEO of EDF Renewables and Mazin Albahkali, CEO of SPPC signatories of the Power Purchase Agreement for the development of the 1,000 MW Al Masa’a and the 400 MW Al Henakiyah2 solar power parks. Once operational, both projects are expected to power more than 240 thousand homes per year and displace more than 2.7 million tons of carbon dioxide annually.

The projects, estimated to cost US$ 850 million, leverage the expertise of global renewables leaders, France’ EDF Renewables and China’ SPIC Huanghe Hydropower Development Company. The Al Masa’a solar power plant is expected to enter under operation in Q2 2027, while the Al Henakiyah2 solar plant is expected to reach financial close in early 2025 and connect to the grid in Q4 2026.

With plans to boost the local economy, at least 21 percent of the equipment, materials and services will be provided by Saudi companies during the construction phase.

Beatrice Buffon, EDF Group Vice-President, International Division, and Chairwoman & CEO of EDF Renewables, said: “The award of these two significant solar projects is another major milestone reached with the Ministry of Energy and SPPC. EDF’s strong technical expertise, combined with environmental and social standards are set to navigate the dynamic Saudi clean energy market. These projects will increase our renewables asset capacity up to 3,500 MW in the Kingdom, paving the way for a future of sustainable growth and positive impact for the future generations, supporting the Kingdom’s Vision 2030.”

The 400 MW Al Henakiyah2 Solar Plant is located 36km southeast of Al Henakiyah Town in the Madinah province. The 1,000 MW Al Masa’a project is located in the Dharghat Town, Hail province, Saudi Arabia

Set to be flagship solar plants in the Kingdom, the projects will be developed, built, owned and operated by the consortium as part of a 25-year agreement with the off-taker SPPC. Both solar parks will help to achieve the target of increasing the share of the renewables in the country’s energy mix to around 50% by 2030, while boosting the local employment.

Key figures of the projects :

Al Masa’a

1,000 MW Solar PV Plant
Located in the Hail Province
1,900,000 tons of CO₂ displaced
190,000 homes powered with clean electricity per year

Al Henakiyah2

400 MW Solar PV Plant
Located in the Madinah Province
755,000 tons of CO₂ displaced
50,000 homes powered with clean electricity per year

About EDF Renewables

EDF Renewables is an international energy company which develops, builds and operates renewable power generation plants.

As a major player in the energy transition worldwide, EDF Renewables deploys, within EDF, competitive, responsible and value-creating projects.

In every country, our teams show their commitment to local stakeholders every day, adding their expertise and capacity for innovation to the fight against climate change.

At the end of 2023, EDF Renewables operates a net installed wind and solar capacity of 12.8 GW (21.2 GW gross) worldwide.

Mainly present in Europe and North America, EDF Renewables is pursuing its development by taking a position in promising emerging markets such as: Brazil, China, India, South Africa and in the Middle East. Historically active in onshore wind and photovoltaics, the Company is now strongly positioned on offshore wind and floating wind as well as in new technologies such as energy storage, floating solar and agrivoltaism.

For media enquiries, please contact: alexandra.taleva@edf.com; +971 54 522 73 73

For more information: www.edf-renouvelables.fr and www.mea-edf-re.com

About SPIC HHDC

SPIC Huanghe Hydropower Development Co., Ltd. (SPIC HHDC) is a leading Chinese company dedicated to clean energy. With over 20 years of experience, SPIC HHDC is a pioneer in hydropower, solar, wind, and energy storage with 31.96GW (91.4% is renewables).

SPIC HHDC has consistently led the way in China's renewable energy sector with two decades experience, possessing comprehensive expertise across the entire renewable energy value chain, from project development and technical expertise to operations, maintenance, and R&D.

SPIC HHDC has also been a leader in renewable energy research and development, holding 912 patents, contributing to international and national industry standards, and operating research labs and demonstration projects to advance solar power.

SPIC HHDC has been expanding its international presence in MENA region, partnering on major projects like the Red Sea Utility Project, Ar Rass 700MW Solar PV IPP and 91MW Solar PV IPP in the Kingdom of Saudi Arabia.