Saudi Solar Prices Surge Amid Silicon-Supply Crunch - Bloomberg
Bid prices to develop Saudi Arabia’s latest round of solar-power projects rose substantially from earlier this year, underscoring how soaring panel costs are hitting the renewable-energy industry.
China’s JinkoSolar Holding Company Limited submitted the lowest shortlisted offer to generate electricity from a 300-megawatt plant, according to a document on the Saudi Ministry of Energy’s website. At 1.48 cents a kilowatt-hour, it was around 40% above a contract of 1.04 cents per kWh that Saudi Arabia signed in early 2021, saying it was the lowest tariff on record globally.
France’s TotalEnergies SE, Riyadh-based ACWA Power International and Abu Dhabi-based Masdar were among the other bidders.
The cost of polysilicon, a material used in photovoltaic solar panels, has risen to its highest since April 2019, partly due to factory shutdowns in China. That’s spurred concerns that countries will delay or cut back investments in clean energy.
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