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Saudi Arabia Receives Several Bids For its Nuclear Power Project | |
| Sumita Pawar |
The report says that Saudi Arabia is speeding up its plans to build a nuclear power plant and has already gotten bids from several interested developers.
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The nuclear power project is expected to boost the Kingdom’s energy security and also widen its energy mix to support sustainability goals, according to the report.
In December, Russia's State Atomic Energy Corporation Rosatom submitted bid documents for the construction of the nuclear power project.
Saudi Arabia is also expecting offers from South Korea, France, and China, according to reports.
The kingdom’s first planned large-scale nuclear power project will be a two-reactor project designed to have a capacity of 2.8 GW, elaborated the report.
Last year, UK-based EY was appointed as the transaction adviser (TA) for the nuclear power project after submitting the lowest bid during a competitive process in 2021.
According to the report, the ambitious nuclear energy programme is expected to generate up to 10 GW of electricity to complement other clean energy initiatives in Saudi Arabia that include power generation from solar and wind.
In January, Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, said that the kingdom was planning to use domestically sourced uranium to build up its nuclear power industry.