The lowest ever bids for a solar power project in Jordan could lead to a boom in the region – especially in Saudi Arabia, industry experts say.
“The Jordanian solar market is going to be booming now that solar energy is evidently cheaper than conventional energy,” said Hadi Tahboub, the regional executive director of development at SkyPower, a UAE firm and bid participant.
He said that the company expected Jordan’s solar photovoltaics (PV) market to boom and trickle into other areas such as Saudi Arabia.
The second round of Jordan’s solar independent power producer (IPP) tender, totalling 200 megawatts, drew the lowest rates for a solar project in the country. The top four bids will each be awarded 50MW.
The lowest bid came from a relatively unknown Greek firm, GI Karnomourakis SunRise PV Systems, at 6.13 US cents.
This is half the amount of the winning bid in Jordan’s previous round and also only a slight difference of about 10 per cent from the world-record breaking solar PV prices in Dubai’s Mohammed bin Rashid Al Maktoum solar park, according to the UAE-based solar trade organisation Middle East Solar Industry Association (Mesia).
According to some estimates, 1MW of energy can power about 1,000 homes, which means the project once completed will be able to supply 200,000 homes.
Jordan is said to be looking at generating 10 per cent, or 600MW, of its electricity via solar in five years. The country imports 96 per cent of its oil and gas, most of which is used to generate power. It is a major drag on its import bill.
According to Acwa Power, a top regional player from Saudi Arabia, prices in Jordan continue to signal growth in the PV sector. “This [bid round] reinforces and makes even more of a compelling case for policymakers in the region, including Saudi Arabia, to embrace renewable energy,” said the Acwa chief executive Paddy Padmanathan.
It should also be noted that two of the top four bidders in Jordan’s projects are Saudi firms, Saudi Oger with a bid at 6.49 cents per KWh and Abdul Latif Jameel/Fotowatio at 6.91 cents.
“The results in Jordan will definitely raise eyebrows across the region, especially in Saudi Arabia which has so far remained on the sidelines of the region’s booming solar market,” said Vahid Fotuhi, the president and founder of Mesia.
Unlike Jordan, a country that relies heavily on fuel imports, Saudi Arabia wants to diversify its power mix to increase its oil exports. It is only one of a handful of countries that generate power directly from crude oil.
However, the kingdom has experienced many delays along the way to reaching its ambitions.
In January, Saudi Arabia announced that it would delay its clean energy target, which included a US$109 billion solar programme, by eight years to 2040.
The country now plans to more than double its available generating capacity to 120 gigawatts from 58GW by developing solar and nuclear power projects, according to the US energy information administration. Yet to date there are no utility scale solar projects under way and less than 1 per cent of solar energy is being generated by scattered rooftop panels.
Mr Fotuhi said that the Jordanian results will “tickle Saudi Arabia’s belly” and entice the country to take a closer look at its own solar market. “Once Saudi Arabia wakes up, you will see the market explode,” he said.
Nathan Weatherstone, the head of National Bank of Abu Dhabi’s renewables initiative, said the reduction in the cost of solar PV has been driven by a drastic reduction in the cost of polysilicon and manufacturing efficiencies created through the scaling up of PV panel production. The research NBAD commissioned from University of Cambridge and PwC suggests that solar PV will be at grid parity [same cost as conventional power] in 80 per cent of countries over the next two years, he added.
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TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
Results
5.30pm: Maiden (TB) Dh82,500 (Dirt) 1,600m, Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)
6.05pm: Maiden (TB) Dh82,500 (Turf) 1,400m, Winner: Mayehaab, Adrie de Vries, Fawzi Nass
6.40pm: Handicap (TB) Dh85,000 (D) 1,600m, Winner: Monoski, Mickael Barzalona, Salem bin Ghadayer
7.15pm: Handicap (TB) Dh102,500 (T) 1,800m, Winner: Eastern World, Royston Ffrench, Charlie Appleby
7.50pm: Handicap (TB) Dh92,500 (D) 1,200m, Winner: Madkal, Adrie de Vries, Fawzi Nass
8.25pm: Handicap (TB) Dh92,500 (T) 1,200m, Winner: Taneen, Dane O’Neill, Musabah Al Muhairi
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
Ramy%3A%20Season%203%2C%20Episode%201
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Company%20Profile
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
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The%20Specs
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SPECS
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COMPANY%20PROFILE
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Company%20profile
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Confirmed%20bouts%20(more%20to%20be%20added)
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RACE SCHEDULE
All times UAE ( 4 GMT)
Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm
Saturday, September 30
Qualifying: 1pm - 2pm
Sunday, October 1
Race: 11am - 1pm
COMPANY%20PROFILE
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The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20HyveGeo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Abdulaziz%20bin%20Redha%2C%20Dr%20Samsurin%20Welch%2C%20Eva%20Morales%20and%20Dr%20Harjit%20Singh%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECambridge%20and%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ESustainability%20%26amp%3B%20Environment%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%24200%2C000%20plus%20undisclosed%20grant%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVenture%20capital%20and%20government%3C%2Fp%3E%0A