PPA signed for a 3.92 GW Combined Cycle Gas Turbine Power Plant in Saudi Arabia

ACWA Power Company, Saudi Electricity Company (SEC) and Haji Abdullah Alireza & Co. Ltd announced the signing of a Power Purchase Agreement (PPA) with the Saudi Power Procurement Company (SPPC) for a large-scale Combined Cycle Gas Turbine (CCGT) Power Plant, namely Qurayyah IPP Expansion Project located in the Eastern province of Saudi Arabia, with a power generation capacity of 3,927 MW.

The value of the contract is SAR 13.4 billion (US$ 3.5 billion). The Project Scope of Work includes the Development, Financing, Building, Owning and Operating of a natural gas-sourced CCGT power plant along with a 380 kV electrical substation. The duration of the project is 25 years from the plant’s expected project commercial operation date. ACWA Power holds an effective shareholding of 40%, Saudi Electricity Co. holds an effective shareholding of 40% in the project and Hajj Abdullah Alireza & Company (Haaco) will own the remaining 20%. 

Acwa Power, South Korea's Samsung C&T, Mena Infrastructure Fund and SEC own Hajr Electricity Production Company, the development company behind the existing 3.9GW Qurayyah 1 & 2 IPP in Saudi Arabia.