Saudi Electricity Procurement Company recently completed the sixth round of bidding for the National Renewable Energy Program, awarding five renewable energy projects with a total capacity of 4.5 gigawatts and a total investment of over 2.4 billion US dollars. This batch of projects includes four solar power plants and one wind farm.

The most notable among them is the Dawadami 1500 MW wind power project, with a standard electricity price as low as 1.33803 cents per kilowatt hour, setting a new low for global wind power prices. In addition, the Nagilan 1400 MW solar project has become the second lowest cost solar power project in the world at a price of 1.09682 cents per kilowatt hour.

The results of this round of bidding will be announced on October 27, 2025 during the Riyadh Future Investment Initiative Summit, presided over by Prince Abdulaziz bin Salman, Minister of Energy. These projects mark an important step forward for Saudi Arabia in achieving its renewable energy goals under the 2030 Vision.

From the perspective of bidding patterns, international energy giants dominated this round of bidding. Masdar Company in the United Arab Emirates became the biggest winner, acquiring two solar projects with a total capacity of 2000 megawatts. The consortium led by Korea Electric Power Corporation has won the record breaking Dawadami wind farm. European companies such as French Electric and Total Renewable Energy have also participated in different projects.

It is worth noting that multiple Chinese companies participating in the bidding failed to win the bid in this round. However, a new opportunity is coming - Saudi Arabia has launched its seventh round of renewable energy bidding in September 2025, with a total capacity of 5.3 gigawatts, including 3.1 gigawatts of photovoltaic and 2.2 gigawatts of wind power projects.

In the previous pre qualification review for bidding, Chinese companies such as Goldwind Technology, Jinko Energy, China Power Construction, China Energy Engineering, and State Power Investment Corporation have successfully been shortlisted as qualified developers, demonstrating the sustained competitiveness of Chinese companies in the Saudi Arabian market.

Saudi Arabia plans to achieve the goal of renewable energy accounting for 50% of its energy structure by 2030. According to the national renewable energy plan, Saudi Arabia will add 20 gigawatts of renewable energy annually, and the total installed capacity should reach 130 gigawatts by 2030. These record breaking low-priced projects confirm the feasibility of its renewable energy plan, and Saudi Arabia is steadily moving towards its 2030 renewable energy goals. Editor/Yang Beihua