Saudi Arabia's renewable energy authority has said it will seek to "maximise value to the Kingdom" as well as seek the lowest-priced bids for new projects after rejecting a record-low bid at its recent 300 MW solar auction. Masdar and EDF, who had put in the lowest bid of Halala6.697/kWh (US¢ 1.78567), were not put through to the final shortlisting last week, despite their tariff being at least 0.5 cents lower than the bids of both finalists Acwa Power and a Marubeni-led consortium. The announcement comes amid growing concern over rising oil prices and concerns about how much of the Kingdom's vast reserves can be tapped in order to meet domestic power needs.
Saudi Arabia's renewable energy authority has said it will seek to "maximise value to the Kingdom" as well as seek the lowest-priced bids for new projects after rejecting a record-low bid at its recent 300 MW solar auction. The announcement comes amid growing concern over rising oil prices and concerns about how much of the Kingdom's vast reserves can be tapped in order to meet domestic power needs.