PV has become a lot cheaper in recent years, and Saudi Arabia has plenty of sun, but these bids are so low that they may require behind-the-scenes support. Or they might not come to fruition. India has recently had similar problems where bidders tried to guess how fast hardware costs would continue to fall when bidding on future projects, and guessed too optimistically.
https://www.greentechmedia.com/articles/read/indias-renewabl...
I thought the gap between the lowest and next-lowest gap was interesting: $0.01786 vs $0.02342. Made me wonder what the lowest bidder's advantage is.
(Remember also that SA is currently involved in a messy war against a neighbour. We must assume that any and all news is being carefully managed.)
1. They're well capitalized enough that they think the actual cost to produce is going to drop significantly. Maybe they're planning on a 50 year lifecycle for this solar plant and thinking: we'll we'll lose money now, but when we have to replace all these panels in a decade, at that point they'll cost nothing and for the remainder of this project we'll make bank (though I'm not even sure if that's how this works)
2. They're somehow financially co-mingled with a solar cell producer and have a significant hidden cost advantage.
This could be a problem as above 25c panels can lose efficiency so temps in the middle east could drop panel efficiency quite a bit.
I do love an optimisation challenge.
300 MW = 300,000 kW
6 hours of generating capacity per day, 365 days in the year, gives 2190 hours of generation per year. 2,190 hours * 300,000kW * 0.02USD gives an annual cost to Saudi Arabia of $13.14M a year, for 300MW of installed capacity.
A modern panel is around 250W, so they are installing and running 1.2M panels, for ~$11/year per panel, including grid connection and transformation costs? Insane!
and the prices seem very very low.
Not sure what the real rate of generation would be, and I'm happy if someone with actual solar experience can clarify my estimate.
Saudi Arabia is building a huge aluminium smelter, I had thought it would be solar powered, but they would need far, far more power, and of course it couldn't run at night.
http://www.bechtel.com/projects/ras-al-khair-aluminum-smelte...
So I assume this is gas fired power, which seems strange.
Compared to oil it’s harder to store and transport, and there aren’t any gas pipelines from the Gulf to neighbouring areas (unlike say Russia). If you fly over the Gulf at night, you’ll see the sea lit up from oil rigs just burning it off, so it makes sense to use it to fuel heavy industry.
The primary constituent of natural gas is methane, which has a much worse greenhouse effect than CO2, so it’s ‘greener’ to burn it rather than just releasing it into the atmosphere.
I know it might mean less money or whatever, but the universe doesn't seem to run on money so it's weird logic sacrifice the environment over something like operational uptime.
Other processes are intolerant of complete shutdown/startup cycles. Modern aluminum smelting is one of them. If everything freezes up in the production cells because of too little power for too long, it causes damage and it takes a long time to start up again. To make aluminum smelting more cycling-tolerant would require rethinking the whole plant design. Even then the cost savings from cheap but non-dispatchable renewables may not be enough to compete with existing plants powered with dispatchable electricity.
Is it? I always thought of it as smart planning. They are taking the profits from a limited resource and diversifying.
Norway has been doing this for decades, albeit not directly with PV.
> US$1.786 cents
There's got to be a better way of writing thateg: USD 24k is a bit stupid, whereas 24 kUSD is more clear. It's even worse with things like 1/(USD 800/kWp) which gives things like:.8kWp/USD 1 ?
How fast can modern ASIC hardware pay for itself if mining?