Saudi Arabia’s Water & Electricity Regulatory Authority (Wera) is understood to be reviewing the proposals with support from PwC of UK. The proposals are for implementing the 2,000 MW Shuaibah 2 solar photovoltaic (PV) and the 300 MW Rabigh 2 solar PV schemes.
The bids from Saudi developer and investor Acwa Power have been received by Saudi Arabia’s Public Investment Fund (PIF).
The new capacity is being procured under the kingdom's renewable programme price discovery scheme, which the PIF oversees.
The PIF is implementing 70 percent of Saudi Arabia's national renewable energy target installed capacity of 27.3 GW by 2024 and 58.7 GW by 2030, mainly through direct negotiations. The Energy Ministry is implementing 30 percent of this target through a public tendering process.