Combined Cycle

SEC seeks interest in development of 2000 MW IPP for Riyadh

15 October 2008 – The Saudi Electricity Company (SEC) has invited Expressions of Interest for the development of a 2000 MW Independent Power Plant (IPP) Project, to be located 100 km west of Riyadh city, Kingdom of Saudi Arabia.

SEC will conduct a competitive process to select a developer/developer consortium partner to build, own and operate the combined cycle IPP, which is to be fuelled by natural gas.

The Project Company will sell its entire capacity and output to SEC under a Power Purchase Agreement (PPA). Under the PPA, SEC will also supply natural gas to and allocate the land for the project. Interested parties have until 25 October to submit EOIs following which a a Request for Pre-Qualification will take place.

The process follow the pattern of previous Saudi IPP projects.SEC is being advised in the project by Citi as Financial Consultant, law office of Mohanned Bin Saud Al-Rasheed in association with Baker Botts LLP as Legal Consultant; and Fichtner GmbH and Co. KG as Technical Consultant.