Market Chatter: Korea Electric Power Named Preferred Bidder for KRW3 Trillion Solar Projects in Saudi Arabia

MT Newswires Live

Oct 30, 2024

Korea Electric Power (KRX:015760), or KEPCO, was named the preferred bidder for three major solar projects in Saudi Arabia, which are part of the nation's fifth renewable energy program, the Saudi Power Procurement said Monday.

Partnering with United Arab Emirate's Masdar Abu Dhabi Future Energy, KEPCO's winning bids include projects totaling 3,700 MW and valued at 3 trillion won. These projects, including the 2,000 MW Al-Sadawi and 1,000 MW Al-Masaa, are projected to require a combined investment of 8 billion Saudi riyals, Pulse News reported Tuesday.

Should KEPCO finalize the contract, it will enter into a 25-year power purchase agreement with the Saudi Power Procurement for each project, structured under a build-own-operate model. Under this, KEPCO will have complete construction, ownership, and operational duties, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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These projects, including the 2,000 MW Al-Sadawi and 1,000 MW Al-Masaa, are projected to require a combined investment of 8 billion Saudi riyals, Pulse News reported Tuesday.</p><p>Should KEPCO finalize the contract, it will enter into a 25-year power purchase agreement with the Saudi Power Procurement for each project, structured under a build-own-operate model. Under this, KEPCO will have complete construction, ownership, and operational duties, the report said.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. 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These projects, including the 2,000 MW Al-Sadawi and 1,000 MW Al-Masaa, are projected to require a combined investment of 8 billion Saudi riyals, Pulse News reported Tuesday.Should KEPCO finalize the contract, it will enter into a 25-year power purchase agreement with the Saudi Power Procurement for each project, structured under a build-own-operate model. Under this, KEPCO will have complete construction, ownership, and operational duties, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}