| Element List | Explanation |
|---|---|
| Introduction | Saudi Electricity Co. announces the signing of the Power Purchase Agreement “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 Eastern province of Saudi Arabia, with a production capacity of 3,010 MW with Readiness to Build Carbon Capture Units. Saudi Electricity Co holds an effective shareholding of 40% in the project. |
| Date of Announcement of the Award | 2025-02-19 Corresponding to 1446-08-20 |
| Project Subject Matter | Power Purchase Agreement (“PPA”) |
| The Entity with Which the Project was Signed | Saudi Power Procurement Company – Principal Buyer (“SPPC”) |
| Date of Signing the Project | 2025-02-19 |
| Project Value | 13.4 billion Saudi Riyal |
| Project Details | 1- Development, Financing, Build, Own and Operate of a gas Combined Cycle Power Plant. 2- Development, Financing, Build, and Transfer of 380kV electrical substation. |
| Project Duration | 25 years from the plant commercial operation date. |
| Financial Impact and the Relevant Period | The financial impact of the operation is expected to be reflected from the second quarter of 2028 onwards. |
| Related Parties | ACWA Power Company |
| Additional Information | - |
