EWEC has received four proposals for the 1.5 GW Al-Ajban solar project. It first launched the tender in May 2022.
The proposals came from Saudi Arabian energy giant ACWA Power, French utility EDF, Japan’s Marubeni, and a consortium formed by China-based Jinko Power and Japanese energy producer JERA.
“EWEC received 43 expressions of interest from potential bidding companies and consortiums, with 19 qualifying for the RFP stage after submitting Statements of Qualification,” EWEC said. “Moving forward, the proposals will undergo a detailed technical and commercial evaluation process to select the best proposal. The awarding announcement and the execution of the power purchase agreement are expected to take place by [the fourth quarter of] 2023.”
In January, the utility said it would sign a long-term power purchase agreement with the selected developer. The PPA will be structured as an energy purchase agreement, under which EWEC will only pay for the net electrical energy supplied by the solar plant. It did not reveal a deadline for proposals on its channels.
Bidders will be expected to handle the development, financing, construction, operation, maintenance and ownership of the plant. The winning developer will take up to a 40% stake in the project, with the remainder to be indirectly held by the government of Abu Dhabi.
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