Saudi Arabia is stepping up its plans to construct a nuclear power plant and has already received several bids from interested developers.

The nuclear power project is expected to increase the Kingdom’s energy security and also widen its energy mix to support sustainability goals.

In December, Russia’ 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 1st planned large-scale nuclear power project will be a two-reactor project designed to have a capacity of 2.8 GW.

In 2022, UK-based EY has was appointed as the transaction adviser for the nuclear power project after submitting the lowest bid during a competitive process in year 2021.

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.