{"id":94669,"date":"2025-02-24T00:00:00","date_gmt":"2025-02-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/24\/qurayyah-power-project-to-get-sar-13-4-bn-expansion-from-acwa-power-sec\/"},"modified":"2025-02-24T00:00:00","modified_gmt":"2025-02-24T00:00:00","slug":"qurayyah-power-project-to-get-sar-13-4-bn-expansion-from-acwa-power-sec","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/24\/qurayyah-power-project-to-get-sar-13-4-bn-expansion-from-acwa-power-sec\/","title":{"rendered":"Qurayyah Power Project to get SAR 13.4 bn expansion from Acwa Power, SEC"},"content":{"rendered":"

<\/strong>Acwa Po<\/strong>wer, SEC <\/strong>ink SAR 13.4 bn agreement for Qurayyah IPP expansion:<\/strong> Saudi<\/a>Electricity Company (SEC)<\/a> and Acwa Power<\/a> signed a SAR 13.4 bn power purchase agreement with the Saudi Power Procurement Company<\/a> for the Qurayyah independent power project (IPP) expansion in the Eastern Province, according to two separate disclosures to Tadawul (here<\/a> and here<\/a>).<\/p>\n

Project details: <\/strong>The project will see the development of a 3.01 GW combined-cycle gas turbine (CCGT) power plant with readiness for carbon capture and a 380 kV electrical substation. The contract will span 25 years from the plant\u2019s commercial operation date.<\/p>\n

Ownership breakdown: <\/strong>SEC and Acwa Power each hold a 40% stake in the project, while Hajj<\/a>Abdullah Alireza & Company (Haaisco)<\/a> owns the remaining 20%, according to Meed<\/a>.<\/p>\n

BACKGROUND- <\/strong>The existing USD 668.3 mn Qurayyah IPP project \u2014 touted as the world\u2019s largest combined cycle gas-fired power plant \u2014 has a net generation capacity of 3.9 GW according to an earlier statement (pdf)<\/a> from Acwa Power. The project began commercial operations back in 2015.<\/p>\n

ICYMI- Acwa Power has been active as of late: <\/strong>Acwa Power snapped up<\/a> Kuwaiti, Bahraini assets from an Engie subsidiary for SAR 2.6 bn last week and signed a SAR 8.6 bn power purchase agreement<\/a> with the Egyptian Electricity Transmission Company earlier this week to set up a 2 GW wind farm in Egypt\u2019s South Hurghada. The homegrown renewables giant is also constructing a 1.1 GW farm in the Gulf of Suez worth USD 1.2 bn with Egypt\u2019s Hassan Allam Utilities.<\/p>\n

\n

ALSO FROM ACWA POWER-<\/p>\n

Acwa\u2019s Shuaiba 2 solar plant to start commercial operations:<\/strong> An Acwa Power-led consortium has received the commercial operation certificate from the Saudi Power Procurement Company for the first, second, and third phases of its 2.1 GW Shuaiba 2 Solar PV plant in Saudi, according to a disclosure<\/a> issued Thursday. The project is now fully operational.<\/p>\n","protected":false},"excerpt":{"rendered":"

The project will include a 3,010 MW CCGT plant with carbon capture readiness<\/p>\n","protected":false},"author":1,"featured_media":94670,"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":[448,2425,10,1390,1331],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-acwa-power","tag-energy","tag-enterpriseam-ksa","tag-saudi-electricity-company-sec","tag-saudi-power-procurement-company-sppc","wpautop","entry"],"acf":{"mongo_id":"66c509de-daf3-43b2-ab06-68e7806b76d0","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2212.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Qurayyah Power Project to get SAR 13.4 bn expansion from Acwa Power, SEC","related_issue":[94664],"teaser":"The project will include a 3,010 MW CCGT plant with carbon capture readiness","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.c07e3c88-fc24-4429-abf5-61bea371a1eb.mp3"},"yoast_head":"\nQurayyah Power Project to get SAR 13.4 bn expansion from Acwa Power, SEC - 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