TotalEnergies qualifies for Saudi renewables auction

French supermajor TotalEnergies is among the companies to qualify for Saudi Arabia’s latest renewable energy auction, with 4.5 gigawatts of capacity up for grabs.

Companies qualified for “wind PV IPP Projects” — it is unclear if the “PV” is a typo, as solar photovoltaic projects are also listed separately — include French supermajor TotalEnergies, which is pairing with Moroccan renewables player Nareva.

Chinese wind turbine-making giant Goldwind has teamed up with JERA Nex, the global clean energy specialist launched earlier this year by Japan's JERA Group, on a project bid.

United Arab Emirates renewables giant Masdar is pairing with Saudi players Al Jomaih Energy & Water and Nesma Renewable Energy for a project.

Other partnerships include Japanese industrial group Sumitomo Corporation and Korea Electric Power Corporation; Singaporean group Sembcorp and Korean trading giant Posco International; and Japan’s Marubeni Corporation and state-owned energy conglomerate China Power Engineering.

Engie subsidiary Kahrabel is pairing on a project with the Saudi Electricity Company. State-owned PowerChina is progressing its own bid.

Saudi Arabia is aiming to generate 50% of its power from renewables by 2030, with the other half coming from natural gas. At the end of last year, the country’s renewable energy capacity reportedly rose to 2.7 GW.

Earlier this year, Saudi Arabia claimed to have set a new record low price for wind power — with a levelised cost of energy (LCOE) of $0.0156 per kilowatt hour — after signing a deal with a consortium led by Marubeni.

Analysts have noted that Saudi Arabia’s ambitions to green its domestic power usage may be less about decarbonisation and more about saving more oil it produces for export internationally.