Saudi Arabia's 1.4GW PV Project Enters Execution Phase

Recently, the 1.4GW photovoltaic project of the fifth round of renewable energy bidding in Saudi Arabia, which was won by a consortium formed by Yellow River Company and EDF New Energy, has obtained the notification of filing of overseas investment projects by National Development and Reform Commission, and the project has formally entered into the implementation stage, marking that Yellow River Company, following the Saudi Arabia Red Sea Integrated Intelligent Energy Project, the Saudi Arabia Photovoltaic Third Round of Photovoltaic Bidding Projects, has pushed forward the implementation of China-Saudi Arabia and other renewable energy sources. After the Saudi Arabia Red Sea Integrated Intelligent Energy Project and Saudi Arabia Photovoltaic Third Round Photovoltaic Bidding Project, the Yellow River Company has made another important achievement in promoting the implementation of China-Saudi Arabia and other renewable energy sources. So far, Yellow River Company has installed more than one million kilowatts of renewable energy projects in Saudi Arabia, ranking among the forefront of renewable energy developers in Saudi Arabia.

Saudi Arabia's fifth round of photovoltaic bidding MAS and AHK2 project is one of the key planning projects under Saudi Arabia's 'Vision 2030' and National Renewable Energy Programme (NREP), and Yellow River won the bidding scale of 1000 MW for MAS and 400 MW for AHK2, of which MAS is the first bidding scale of GW that Yellow River has ever won in the highly competitive global market. The MAS project is the first GW scale project that Yellow River Company has won the bid for the first time in the global competitive market and the first project to achieve the transformation from following to running in the regional and country markets.
The MAS project is located in the eastern part of Dharghat town in Hail province, Saudi Arabia, and the AHK2 project is located in the southeastern part of Al Henakiyah town in Madinah province, Saudi Arabia. The Yellow River Scheme will be introduced in project financing, construction, equipment, technology, operation and maintenance management, etc., to promote the high-quality construction of 'One Belt, One Road' and the development of the Yellow River project. The project will introduce the 'Yellow River Solution' in all aspects of financing, construction, equipment, technology, operation and maintenance management, promote the high-quality joint construction of the 'Belt and Road', strengthen the production capacity co-operation between China and Saudi Arabia, and help Saudi Arabia realise the diversification of its energy structure and green transformation. Upon completion, the project will be able to produce about 4.4 billion kWh of clean electricity annually, providing green and stable clean energy for about 150,000 local households.
The project was successfully awarded in October 2024, the investment decision was completed and the power purchase agreement and project development agreement were signed in December. On 13 January 2025, the project obtained the Certificate of Enterprise Overseas Investment from the Ministry of Commerce, the EPC general contracting agreement was signed on 17 January, and the notification of filing of overseas investment project from the National Development and Reform Commission was obtained on 22 January... ...Since the announcement of the project's winning result, the International Department of the Company has organised the Departments and Units of Accounting and Finance Department, Enterprise and Law Department, Engineering Department, Middle East and North Africa Representative Office, Overseas Working Group and other departments and units to carry out a number of tasks such as revision of the project's key agreement and negotiation, filing with the national ministries and commissions, opening of the letter of guarantee, antitrust declaration and so on, so as to ensure that the project will be implemented successfully according to the planned nodes.