Saudi Arabia's Major Renewable Energy Expansion Plan
Under the program, the Kingdom aims to install 54 GW of renewable energy by 2032, with 41 GW coming from solar power and the rest supplied by wind, geothermal and waste-to-energy power plants. The first round of tendering for the CPP is scheduled for the first half of 2013.
“Proponents that integrate local content into their projects will benefit from strong incentives through the rated criteria evaluation for utilizing labor and equipment that provide a positive net benefit to the local economy,” the authors stated. “While K.A.Care is aggressively pursuing the development of the local value chain, projects will be expected to escalate their local content inclusion accordingly.”
Related story: Saudi Arabia Completes Massive Solar Farm
After the procurement round, the target for solar is around 1.1 GW of installment, with 1.3 GW to follow under the second round. By 2032, the goal is to reach 16 GW of photovoltaic installments in addition to 25 GW of solar thermal plants.
Renewable power developers involved in the projects will have 20-year contracts to sell power. The first round of tendering will help determine the cost of installing large-scale renewable plants in Saudi Arabia in order to set up a pricing structure for the future bidding rounds.
Related story: Saudi Arabia to Become 100% Renewable Energy Nation
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.