Saudi Electricity Company (SEC) and ACWA Power Co. Consortium announces the receipt of Conditional award notification from the Saudi Power Procurement Company (SPPC) for Taiba 1 and Qassim 1 Independent Power Plants (IPPs) using combined-cycle gas turbine technology (CCGT),
The Total Capacity of the Projects is 3.6 GW.
The Project value is expected to be SAR 14.6 billion.
The projects details are as below:
1) Taiba 1 IPP – 1.8 GW CCGT Power Plant
2) Qassim 1 IPP – 1.8 GW CCGT Power plant
SPPC, limited liability company fully owned by the Government, is the off-taker of both projects and The Consortium will look forward to working with SPPC, its partners and relevant stakeholders steering this project towards the signing of 25-year Power Purchase Agreements (PPAs) during November 2023.
The development of the two referred above projects comes as part of conventional power plants plan within the target energy mix plan under the oversight of the Ministry of Energy. The plan aims to meet the electrical system requirements, ensure the reliability of energy supplies, gas units manufacturing localization, and adopting of carbon capture technologies. This in alignment with the goals of the Saudi Green Initiative to greenhouse gas neutrality by 2060 through implementing the circular carbon economy technologies.
