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SPPC awards 7.2 GW of CCGT projects to be developed in Saudi Arabia

The Saudi Power Procurement Company (SPPC) has announced the winning bidders for four of its conventional independent power plant (IPP) CCGT projects, to be developed in Saudi Arabia and totalling 7.2 GW in capacity. SPPC had launched the request for proposals (RFP) for these projects in January 2023.

A consortium of Saudi Electricity Company (SEC) and ACWA Power was awarded the Taiba-1 and Qassim-1 CCGT projects, which will be developed for a total investment of SAR14.6bn (US$3.9bn), while a consortium of Al Jomaih Energy and Water, EDF and Bahour Investment Company was awarded the Taiba-2 and Qassim-2 projects. Each project will be developed on a build, own, and operate (BOO) basis and the winning bidders will enter a 25-year power purchase agreement with SPPC. The projects will supply power to approximately 3 million Saudi households. The four 1.8 GW projects will be set up for a total investment of SAR29bn (US$7.8bn).

In 2021, gas-fired generation represented 45% of Saudi Arabia’s installed capacity (second after oil, 54%) and 59% of its power generation (before oil, 40%).

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