The Saudi power group ACWA Power has signed a Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC) for the 2,313 MW Rabigh 2 Independent Power Plant (IPP) expansion project in the Makkah region of Saudi Arabia (ACWA Power press release, 19/04/2026).
The SAR11.5bn (USD3bn) contract, with a duration of 31 years, involves the development, financing, construction, ownership, and operation of a 2.3 GW gas-fired CCGT power plant and its related 380 kV substation to support grid integration and network stability.
At the end of 2024, Saudi Arabia's installed capacity stood at over 91 GW, including 45 GW of oil-fired capacity and 41 GW of gas-fired capacity, which together covered 98% of the country's power generation.
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