Masdar, one of the world’s leaders in renewable energy, has successfully clinched two large contracts with the Saudi Power Procurement Company (SPPC). These contracts are for solar photovoltaic (PV) projects in Saudi Arabia. Once completed, the projects – Najran and Ad Darb – will bring a potent 2,000 megawatts (MW) of capacity into Masdar’s growing portfolio. Now, that portfolio has recently grown to a stunning 43.2 gigawatts (GW). These recent developments are supportive of Saudi Arabia’s Vision 2030 goals to diversify its sustainable energy portfolio.
The Najran plant will have 1,400 MW capacity and the Ad Darb plant will produce 600 MW. Both projects will be implemented under a build, own and operate funding model. They hope to plug into the grid by 2027. Together, they plan to jointly power more than 68,400 homes throughout the region.
Commitment to Vision 2030
Masdar’s CEO, Mohamed Jameel Al Ramahi, emphasized the company’s commitment to supporting Saudi Arabia’s ambitious Vision 2030 renewable energy targets. He stated,
“Masdar is proud to support Saudi Arabia to achieve its Vision 2030 renewable energy targets.”
The initiative’s vision is to transform and diversify the country’s energy sources and reduce the country’s dependence on oil. By building solar facilities at record speed and helping set new low-cost norms, Masdar is a critical contributor to the KSA’s landmark pivot toward clean energy.
In light of the above, McGowan noted the urgent need for these projects. He noted that they are a major diversification of Masdar’s portfolio within Saudi Arabia. He remarked,
“Winning the Najran and Ad Darb projects marks a significant expansion of our Saudi portfolio, and is testament to our two decades of experience in developing and operating utility-scale renewable projects, and our strong track record in the region.”
A Track Record of Success
Masdar’s leadership has been proven over the last three years in the highly competitive SPPC bidding process. To date, their fleet has grid-connected 12.3 GW. This accomplishment is a testament to its know-how and efficiency in advancing large-scale renewable energy projects.
Masdar’s recent wins are a reflection of its ambitions to diversify and broaden its international reach. They prove out the company’s commitment to developing sustainable, inclusive prosperity in Saudi Arabia. As you can imagine, Mr. Al Ramahi was excited at the prospect of landing these upcoming projects, stating,
“We look forward to develop these projects and contribute to the kingdom’s sustainable economic growth.”
Future Developments
The Najran and Ad Darb projects are part of the sixth round of competitive bidding. Those two programs are cornerstones of the National Renewable Energy Program. They highlight Masdar’s continuing work to grow its renewable energy investments across the Kingdom of Saudi Arabia. VanderZanden, the company’s long-term focus is on providing breakthroughs in clean energy technology that will help improve our country’s long-term environmental aspirations.
Beyond addressing equity and climate concerns, these initiatives will significantly bolster local energy security. They are intended to increase job creation and economic diversification. All of the projects are supposed to be complete by 2027. To many, this completion signifies an important step in the direction toward a more sustainable future for Saudi Arabia.