| Work Detail |
ACWA Power Company, Saudi Electricity Company (SEC) and Haji Abdullah Alireza & Co. Ltd announces the signing of a PPA with the Saudi Power Procurement Company – Principal Buyer (“SPPC”) for large-scale Combined Cycle Gas Turbine (“CCGT”) Power Plant, namely Qurayyah IPP Expansion Project. The Project is located in the Eastern province of Saudi Arabia, with a power generation capacity of 3,010 MW with Readiness to Build Carbon Capture Units. This initiative, overseen by the Ministry of Energy, aims to bolster electricity production capacity and enhance operational efficiency within Saudi Arabia. The value of the contract is SAR 13.4 billion. Project Scope of Work includes Development, Financing, Building, Owning and Operating a natural gas-sourced CCGT power plant along with 380kV electrical substation. The duration of the project is 25 years from the plant’s expected project commercial operation date. ACWA Power holds an effective shareholding of 40% and Saudi Electricity Co holds an effective shareholding of 40% in the project. This project extends the energy ecosystem’s efforts to realize Saudi Vision 2030’s objectives. It contributes to improving electricity generation efficiency and reducing costs by diversifying energy production sources to achieve the optimal energy mix and displacing liquid fuels in the Kingdom’s power sector. |
