QAZAQ GREEN.  In the presence of Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy and Chairman of the Board of Directors of the Saudi Power Procurement Company (Principal Buyer), five new renewable energy projects with a combined capacity of 4,500 megawatts were awarded under the sixth phase of the National Renewable Energy Program supervised by the Ministry of Energy, Saudi Press Agency reports.

The projects include one wind and four solar power plants, with total investments exceeding 9 billion Saudi riyals (approximately USD 2.4 billion).

The Dawadmi Wind Energy Project, with a capacity of 1,500 MW, set a new global record for the lowest cost of electricity generation from wind energy at 1.33803 US cents per kWh. The Najran Solar Energy Project, developed in partnership with Masdar, achieved the second-lowest global cost of electricity generation from solar power at 1.09682 US cents per kWh, following Saudi Arabia’s Shuaiba 1 Project, which holds the current world record.

The other awarded projects include the Ad Darb (600 MW), Samtah (600 MW), and As Sufun (400 MW) solar power plants, each featuring highly competitive levelized costs of electricity.

These awards reaffirm Saudi Arabia’s leading global position in renewable energy, driven by efficient financing and development models and growing investor confidence.

By the end of 2025, the Principal Buyer expects the total renewable generation capacity tendered to reach 64 GW, with 43.2 GW already contracted and 12.3 GW connected to the national grid.