Orascom Construction + Tecnicas to build Qurayyah’s IPP expansion: A JV between Egypt’s Orascom Construction and Spain’s Tecnicas Reunidas signed a USD 2.6 bn Engineering, Procurement, and Construction contract with Hajr Two Electricity Company — a consortium of renewables giant Acwa Power, Saudi Electricity Company (SEC), and Hajj Abdullah Alireza & Company (HAAISCO) — to build the Qurayyah IPP Expansion Project in the Eastern Province, according to a press release (pdf).

The details: The project will see the development of a 3.01 GW combined-cycle gas turbine (CCGT) power plant ready for carbon capture and a 380 kV electrical substation. The JV has received a limited notice to proceed, allowing it to begin preliminary work on the project before the full notice is issued.

ICYMI- SEC and Acwa Power signed a SAR 13.4 bn power purchase agreement with the Saudi Power Procurement Company last month. SEC and Acwa Power each hold a 40% stake in the project, while HAAISCO owns the remaining 20%. The agreement will span 25 years from the plant’s commercial operation date.

BACKGROUND- The existing USD 668.3 mn Qurayyah IPP project — touted as the world’s largest CCGT power plant — has a net generation capacity of 3.9 GW. The project began commercial operations back in 2015.

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