The King Abdullah City for Atomic and Renewable Energy (K.A.CARE, Riyadh, Saudi Arabia) has issued a white paper outlining its plans to build 41 GW of solar photovoltaic (PV) and concentrating solar power (CSP) projects by 2032.
These projects will represent an estimated investment of over USD 60 billion. As a first step, K.A.CARE will hold an introductory round of solicitations for five to seven renewable energy projects with a combined capacity of 500 to 800 MW.
“This is a very important milestone, both for Saudi Arabia and the Middle East solar market as a whole, notes ESIA President Vahid Fotuhi. “ESIA will continue to work closely with KA-CARE to make sure this program becomes a resounding success and a benchmark for excellence.”
Following the introductory round, K.A.CARE will launch two additional procurement rounds 12-18 months apart. The first round will target 1.1 GW of photovoltaic and 900 MW of Concentrated Solar Power (CSP), and the second round 1.3 GW of PV and 1.2 GW of CSP.
The company will launch a registration process for interested companies to submit feedback and obtain program information, as an initial step prior to the introductory round.