On 1 June 2016, Saudi Electricity Company (“SEC”) invited expressions of interest from potential lead developers for the development of two 50MW solar photovoltaic (“PV”) Independent Power Plants (“IPPs”) in Al-Jouf and Rafha, Kingdom of Saudi Arabia, with their output to be sold to SEC under a long-term Power Purchase Agreement. These new IPPs are expected to attract unprecedented interest from global solar energy players, as well as established regional power developers. Is the Saudi renewables sector, for so long the sleeping giant in the renewable energy world, finally awakening?
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