The Faisaliah Solar Power Project is planned to be developed in several stages by the Saudi Ministry of Energy, Industry and Mineral Resources and the Development Authority of Mecca. Only 600 MW of the project will be tendered by the REPDO, while the remaining 2 GW will be built by the countrys Public Investment Fund along with its partners.
Phase IV of the huge solar park includes a 700 MW CSP plant and a 250 MW PV facility. Funds for the $4.2 billion project will be provided by banks from the United Arab Emirates and China, as well as other international lenders.
Despite its abundant solar resources, Turkeys potential for solar energy development remains largely untapped. Although the market grew considerably between 2017 and 2018, the outlook for the next two years, due to the macroeconomic situation and the current regulatory framework, appears rather gloomy. If regulations will not be changed, and tenders for large-scale solar remain unimproved, unsubsidized PV and self-consumption may remain the best options available to seek more growth.
More than 100 domestic companies are reportedly in the running for a seven-project portfolio that is expected to generate around $1.5 billion of investment and they will fancy their chances against overseas developers.
With no details reported on the final electricity price agreed for a 500 MW solar project to be built in Oman, speculation will center on whether the victorious Saudi power company and its Kuwaiti partners have again trumped lower offers from overseas rivals.
The dividend was approved by the shareholders at the companys Annual General Assembly (AGA), chaired by Khaled Abdulla Al Qubaisi, Tabreeds Chairman, and attended by Tabreeds Board of Directors, shareholders, and the company's senior leadership team.