Solar projects deadline pushed, another sukuk issuance from NDMC

Extending deadline for solar projects

Developers now have until 13 September to submit bids for four solar PV projects with a combined capacity of 3.1 GW under the National Renewable Energy Program, according to MEED. The Saudi Power Procurement Company has pushed back the deadline for the second time, after extending it to 30 June earlier this year.

The details: The solar portfolio comprises Tabarjal 2 in Al Jouf (1.4 GW), Mawqaq in Hail (600 MW), Tathleeth in Aseer (600 MW), and South Al Ula in Madinah (500 MW), along with the 1.3 GW Bilghah and the 900 MW Shagran wind projects. The six projects combined total 5.3 GW in capacity.

Why it matters: The extension keeps a major pipeline of utility-scale solar projects moving toward procurement while giving developers more time to structure competitive bids.

Yet another sukuk issuance

The Finance Ministry has completed a SAR 9.5 bn sukuk issuance, the National Debt Management Center (NDMC) said in a statement. The issuance consisted of five tranches, ranging from five to 15 years. The ministry and the NDMC did not identify the managers for the issuance.

ICYMI: The ministry wrapped up its previous sukuk issuance last month, which totaled SAR 17.2 bn.