World’s cheapest prices submitted for Saudi Arabia’s first solar project

If there were any doubt that solar power is revolutionizing the world of energy, this item puts that to rest.

Not only is the price of solar falling at rates that exceed the bravest predictions, this new record setting bid is taking place in the world’s LARGEST OIL PRODUCING COUNTRY IN THE WORLD. (excuse the caps, but, WOW!)

From The Nation (United Arab Emirates Edition)

A consortium led by Abu Dhabi’s renewable energy company Masdar submitted the world’s lowest-ever bid for the first solar power project in Saudi Arabia as Opec’s top crude producer diversifies its economy away from hydrocarbons.

Masdar and its French partner EDF submitted the lowest offer for the project at 1.79 US cents per kilowatt hour (kWh), according to Saudi Arabia’s Renewable Energy Project Development Office (Repdo), which read out the submissions from eight firms in a live webcast yesterday, with Masdar’s bid coming in 24 per cent cheaper than the second lowest bid from Saudi Arabia’s Acwa Power.

If successful, Masdar’s bid will break the 2-cent global threshold for the kingdom’s first commercial scale solar photovoltaic (PV) plant totaling 300 megawatt.

Read all the details at The Nation

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