Saudi Electric Company seeks bidders for 2000 MW CCGT plant, signs Rabigh deal

13 July 2009 - State-run Saudi Electricity Company (SEC) has invited bidders for a SR9.5bn ($2.53bn) power plant project in Riyadh as part of efforts to meet soaring demand, a senior company official has said.

The 2000 MW combined-cycle plant project in the Saudi capital will start its first phase of operation by 2012, Amr Aswaha, head of projects for independent power projects (IPP), told Reuters.

Bidding ends in December with a decision expected in March 2010, he added, without giving details.

Saudi Electricty, the largest Gulf utility by market value, is trying to satisfy a demand for power that has soared sharply in the past two years as many infrastructure projects are underway.

Separately, SEC has signed a contract with a consortium led by Korea Electric Power Corporation (Kepco) to build the 1200 MW Rabigh fuel-oil fired power plant.

Funding for the SR9.5 billion project will be provided by a consortium of banks led by Alinma Bank which expects to contribute about $500m, said Abdulmohsen al-Fares, the bank's chief executive officer.

Other banks include Bank of China, Calyon, HSBC, National Commercial Bank, Banque Saudi Fransi, Samba Financial Group and Standard Chartered, Saudi Electricity said in a statement.

The power consortium includes Saudi's ACWA Power International and will deliver electricity to SEC under a Power Purchase Agreement (PPA) over 20 years. SEC will have 20 per cent of the project.

The plant will be built in two phases, the first of which will deliver 600 MW by 2012 while the next 600 MW will be delivered by 2013.

Sponsored by FLSmidth

Related Articles

Fuel Tech receives air pollution control contracts worth $3.6Mn

Fuel Tech Inc. has received multiple air pollution control (APC) contracts, worth approximately $3.6 million, from customers in China, Europe and the U.S.

Check out these highlights during Power Generation Week

More than 22,000 industry professionals from around the world gathered in Orlando for Power Generation Week, where innovative and cost-effective solutions for maintaining, operating and building new power generation were shared. More than 1,400 exhibiting companies from every sector of the industry showcased their products and services on the exhibit floor.

Follow Power Engineering on Twitter

Latest News

Duke Energy to build solar power facility at North Carolina military camp

POWER-GEN International 2014 Keynote Session

Power Engineering Photo of the Day

Vermont bill would set new standards for renewable energy

Vermont is considering a change to its energy policy that would end a practice that critics s...

Senate panel passes energy-efficiency utility bill

Major utility companies would be able to develop their own energy-efficiency programs and cha...

Oklahoma lawmakers want changes to state wind farm subsidies

Two Oklahoma lawmakers have filed legislation to alter state tax subsidies for new wind farms...

Feds seek public input on coastal NC wind energy study

The federal government is inviting the public to comment on an environmental assessment that ...

Regulators: Work environment improves at Palisades plant

The work environment has improved at Palisades Nuclear Plant in southwestern Michigan followi...

Hinkley Point B nuclear reactor taken offline for scheduled maintenance

One of two nuclear reactors at Hinkley Point B in the UK was taken out of service for a £40 m...

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Product Listings

Gas Turbine Service and Maintenance

World Class Gas Turbine service solutions inclu...

Air Filtration

Braden filtration offers a wide range of filtra...

Power Industry Wire News

Con Edison to Report 2014 Earnings on February 19

Con Edison to Report 2014 Earnings on February 19

New Jersey Residents Are Invited to the 1st Energy Resiliency Next Generation Forum on Tuesday, January 27 at Mercer Oaks in Princeton Junction From 6-8 pm

New Jersey Residents Are Invited to the 1st Energy Resiliency Next Generation Forum on ...

Tinius Olsen Launches New ST Series - Advanced Electromechanical Universal Testing Machines

Tinius Olsen Launches New ST Series - Advanced Electromechanical Universal Testing Mach...

BTJ Consulting LLC President & Founder Michael Hanberry to Be Interviewed on Clear Channel - iHeart Business Talk Radio's "The Trader's Network" on January 24th, 2015

BTJ Consulting LLC President & Founder Michael Hanberry to Be Interviewed on Clear Chan...

Magnum Hunter Resources Schedules Conference Call to Discuss Macro Events Affecting the Energy Sector and Company Specifics

Magnum Hunter Resources Schedules Conference Call to Discuss Macro Events Affecting the...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>