UAE firms feature prominently in Saudi’s latest renewables round: Masdar and EtihadWE were awarded three solar and wind energy projects by the Saudi Power Procurement Company, according to a statement. The two firms will develop 3.5 GW out of the 4.5 GW, USD 2.4 bn round. The exact value of the projects wasn’t disclosed.

Abu Dhabi’s Masdar secured two solar projects — the 1.4 GW Najran plant and the 600 MW Al Darb project in Jazan — both cleared at record-level tariffs, with the Najran project seeing the world’s second-lowest cost for electricity generation from solar power on record at USD 0.0104 / kWh.

Etihad Water and Electricity (EtihadWE) on the other hand secured the contract for the 1.5 GW Al Dawadmi project alongside Korea’s Electric Power Corporation and Saudi’s Nesma Renewable Energy, with a record low wind power generation cost at USD 0.0133 / kWh, according to the statement.

The move seems to mark EtihadWE’s first venture in the GCC, as the company’s sole foreign venture we heard of was a joint development agreement last year with Uzbekistan’s Energy Ministry and its Investment, Industry, and Trade Ministry, and JSC Thermal Power Plants for the 320 MW Mubaraka power plant.

…unlike Masdar, which is active in the region: The company reached financial close on the USD 1.1 bn, 2 GW Al Sadawi solar project in Saudi Arabia in August, and is working with consortiums on other projects across the region. That includes plans to develop the 500 MW Ibri III solar plant and 100 MWh BESS system in Oman with an investment of USD 300 mn. It’s also among five shortlisted to bid for Kuwait’s 500 MW Al Dibdibah and Al Shagaya solar projects..

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