A developer consortium led by Japan's Marubeni Corporation is expected to reach financial close with a team of lenders for the contracts to develop two wind independent power producer (IPP) projects in Saudi Arabia over the next few weeks. Marubeni and the local Ajlan & Bros won the contracts to develop the first two wind schemes of the kingdom's National Renewable Energy Programme (NREP) round four, the 600MW Al-Ghat and the 500MW Waad Al-Shamal wind IPPs, in May this year.  The final negotiations are under way and the signing of the financial package for the projects is imminent. The consortium agreed to develop and operate the 600MW Al-Ghat wind IPP project with a new world-record-low levelised electricity cost (LCOE) from wind power of $cents 1.56558 a kilowatt-hour (kWh), or about 5.87094 halalas/kWh. The 500MW Waad Al-Shamal project has also achieved a second world-record-low tariff for wind power of $cents 1.70187/kWh or 6.38201 halalas/kWh, the energy ministry announced in May. The tariff achieved for Al-Ghat is almost 22% lower compared to the LCOE agreed for Saudi Arabia's first wind IPP, the 400MW Dumat Al-Jandal scheme, which a team comprising the UAE's Abu Dhabi Future Energy (Masdar) and France's EDF Renewables won in 2019. Marubeni will own 51% while Ajlan will maintain a 49% stake in the project company that will implement the projects. The same team is expected to win the contract to develop and operate the third wind scheme of NREP round four, the 700MW Yanbu wind IPP. The contract could be awarded before the year-end. It is understood that other teams, separately led by local utility developer Acwa Power, France's Engie and EDF Renewables, submitted proposals for the contract to develop the Yanbu wind IPP scheme. (ICE RIYADH)

Fonte notizia: Meed