Riyadh - Sharikat Mubasher: Saudi Power Procurement Company (SPPC) announced the winning bidders for conventional Independent Power Projects (IPPs), including: Taiba 1, Taiba 2, Qassim 1, and Qassim 2.
A consortium of the Saudi Electricity Company (SEC) and ACWA Power won the Taiba 1 and Qassim 1 projects; each is set to operate with a capacity of 1.8 GW, the Saudi Press Agency (SPA) stated.
Another consortium, encompassing Al Jomiah Energy and Water company, France’s EDF, and Buhur for Investment, won Taiba 2 and Qassim 2 projects; each is set to operate with a capacity of 1.8 GW.
The conventional IPPS are part of the energy mix plan that is supervised by the Ministry of Energy, in alignment with the Saudi Green Initiative.
The plan aims to fulfill the future load demand of the electrical system, guarantee the reliability of the energy supply, ensure security of supply, localize gas turbines industry, and allow the utilization of carbon capture technologies.
Each project will be implemented on a build, own, and operate (BOO) basis by the winning consortiums, which will be 100% owned by the successful bidder. The projects are expected to attract expected to attract investments worth around SAR 29.2 billion.
Furthermore, each project company will enter into a 25-year power purchase agreement with the SPPC.
Moreover, the projects will feature the latest Class H/J Gas Turbines of the highest efficiency in Combined Cycle operation.
The Saudi Green Initiative aims to reach net-zero greenhouse gases (GHGs) by 2060 through leveraging cutting-edge technologies in support of circular carbon economy strategies.
