ACWA Power and Marubeni Corporation with consortium members Khaled Ahmed Juffali Energy & Utilities Limited and Axia Power Holdings BV were chosen for the list.
The project will be awarded to the selected bidder in January 2018 backed by a 25-year Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC). Deadline for financial close of the Sakaka PV project is February 2018.
It was announced in October of 2017, eight companies had submitted bids on the project. At the time of the bid opening Khalid Al Falih, Minister of Energy, Industry and Mineral Resources, said, “Today’s bid opening represents a significant milestone for the NREP, and an important step on the way to diversifying Saudi Arabia’s domestic energy mix and building a cutting-edge domestic renewable energy sector, which will create new jobs and opportunities. The commercial viability of utility-scale solar energy projects is a corner stone of the program and the bids opened today will set the benchmark for this burgeoning new industry in the Kingdom and beyond.”
The Request for Proposal for the project was issued on April 17th, 2017.
All eight bids submitted were subjected to a detailed evaluation of material compliance to RFP requirements, including the 30% local content component for Round 1 NREP projects.