Results from Jordan’s 200MW Round II solar PV tender

in Middle East Solar News

 

The results of Jordan’s Round 2 solar PPA tender have just been released. In total, 24 companies submitted bids. The top 4 will be awarded a 50MW solar PV project, subject to a detailed commercial and technical evaluation of their bid.

 

Insights

  • The average of the top 4 tariffs in Round 2 is over 50% lower than the Round 1 tariff, reflecting a dramatic improvement in the cost of solar in Jordan.
  • The winning tariff is within 10% of the record-low tariff in the DEWA 200MW IPP project, suggesting that a tariff of 6-8 USD cents is the new benchmark for utility-scale solar projects in the stable markets within the Middle East.
  • ACWA surprised everyone by not providing the lowest tariff, for once.
  • The lowest bidder, GI Karnomourakis SunRise, is a small Greek solar PV company established in 2006. Their only projects are in Greece and they have never undertaken a project of this scale.
  • Fotowatio/ALJ showed, as they did with the DEWA 200MW tender, that they can be extremely aggressive on large-scale solar IPPs. Backed by the deep financial resources of Saudi Arabia’s Abdul Latif Jamil (ALJ) and the strong IPP experience of Fotowatio (FRV), this partnership is poised to become a leading player in the MENA solar market for years to come.
  • Saudi Oger is another Saudi player name to watch out for in the future. They came from last place in the DEWA tender to finish in the top 4 in Jordan.
  • The results in Jordan will send a strong signal to other solar markets, notably Saudi Arabia, who are sitting on the sidelines of the region’s solar market. Riyadh can now see that solar is extremely competitive compared to conventional sources of power generation. If they decide to follow in Amman’s footsteps, we will see the Middle East solar market take off like never before.

 

The results

  1. GI Karnomourakis SunRise PV Systems 4.3441 JOD Cents (6.13 USD Cents)
  2. Saudi Oger 4.59784 JOD Cents (6.49 USD Cents)
  3. Fotowatio/ALJ 4.8949 JOD Cents (6.91 USD Cents)
  4. Hareon Swiss Holding 5.43 JOD Cents (7.67 USD Cents)
  5. Evolution Solar/AMP 5.59 JOD Cents (7.89 USD Cents)
  6. Philadelphia Solar 5.6 JOD Cents (7.91 USD Cents)
  7. SolaireDirect 5.68 JOD Cents (8.02 USD Cents)
  8. Neoen 5.738 JOD Cents (8.1 USD Cents)
  9. Linuo Group 5.86 JOD Cents (8.27 USD Cents)
  10. Activ Solar 6 JOD Cents (8.47 USD Cents)
  11. Mainstream 6.1493 JOD Cents (8.68 USD Cents)
  12. Kawar-First Solar 6.23 JOD Cents (8.8 USD Cents)
  13. Alten Renewable Energy Developments 6.275 JOD Cents (8.86 USD Cents)
  14. Al Sanad for Renewable Energy (JoSolars) 6.299 JOD Cents (8.89 USD Cents)
  15. SkyPower-FAS 6.361 JOD Cents (8.98 USD Cents)
  16. SunEdison 6.4 JOD Cents (9.04 USD Cents)
  17. Elecnor 6.413 JOD Cents (9.05 USD Cents)
  18. ACWA 6.5831 JOD Cents (9.29 USD Cents)
  19. SECI 6.6 JOD Cents (9.32 USD Cents)
  20. ELF-ENEL 6.6 JOD Cents (9.32 USD Cents)
  21. Scatec 6.698 JOD Cents (9.46 USD Cents)
  22. Hanergy 7 JOD Cents (9.88 USD Cents)
  23. Spectrum International for Investment 7.3 JOD Cents (10.31 USD Cents)
  24. Suncore PV Technology 9.4 JOD Cents (13.27 USD Cents)