{"id":91353,"date":"2024-11-10T00:00:00","date_gmt":"2024-11-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/10\/saudi-power-awards-ipps-worth-sar-30-bn\/"},"modified":"2024-11-10T00:00:00","modified_gmt":"2024-11-10T00:00:00","slug":"saudi-power-awards-ipps-worth-sar-30-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/10\/saudi-power-awards-ipps-worth-sar-30-bn\/","title":{"rendered":"Saudi Power awards IPPs worth SAR 30 bn"},"content":{"rendered":"

The Saudi Power Procurement Company (SPPC) awarded four contracts for<\/strong> independent power projects (IPPs)<\/a><\/strong> to two consortiums<\/strong> of local, regional and international contractors, on a build, own and operate basis (BOO), state news agency SPA<\/a> reports. The 25-year power purchase agreements represent a combined investment of SAR 30 bn and a total capacity of 7.2 GW at 1.8 GW each. <\/p>\n

One consortium, two projects: <\/strong>Saudi Electricity Company (SEC), Acwa Power, and Korea Electric Power Corporation (KEPCO), secured contracts for the Rumah-1<\/a> plant located in the Central Province and the Nairyah-1<\/a> plant in the Eastern Province. SEC will serve as the managing and technical lead, while Acwa Power and KEPCO contribute additional expertise.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Consortium #2: <\/strong>Abu Dhabi\u2019s National Energy Company (Taqa), Japan\u2019s Jera, and Saudi\u2019s Al Bawan, will oversee the Rumah-2 and Nairyah-2 plants also at 1.8 GW each. Taqa will act as the managing and technical lead, while Jera serves as technical member. <\/p>\n

SOUND SMART- <\/strong>All four projects will incorporate high-efficiency gas turbines in combined-cycle mode, which allow for the use of carbon capture technologies. They are expected to power some 3 mn households annually, as part of the government\u2019s energy mix strategy engineered to meet growing demand and diversify energy sources. Saudi aims to generate<\/a> 50% of its electricity needs from natural gas by 2030, with the other half coming from renewables.<\/p>\n

MEANWHILE-<\/strong> Meed<\/a> reports that new power generation plants in Shuqaiq and Shoaiba will replace the 2.4 GW Al Rais plant and the 3.6 GW Riyadh project. The news outlet reported back in June that the state-owned energy procurement company has already received bids for the financial, legal, and technical consultancy roles for the projects.<\/p>\n","protected":false},"excerpt":{"rendered":"

The power purchase agreements will be valid for the next 25 years<\/p>\n","protected":false},"author":1,"featured_media":91354,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2570],"tags":[2425,10,1331],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam-ksa","tag-saudi-power-procurement-company-sppc","wpautop","entry"],"acf":{"mongo_id":"2800d78b-eb3f-4cee-9da8-fe67495e849f","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/736.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SPPC awards four IPPs worth SAR 30 bn to SEC-led + Taqa-Led consortiums","related_issue":[91348],"teaser":"The power purchase agreements will be valid for the next 25 years","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.29d1da11-572c-4767-9f88-e282453ffd3e.mp3"},"yoast_head":"\nSaudi Power awards IPPs worth SAR 30 bn - 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