SAUDI ARABIA

 

SEC Awards Revised Rabigh-2 IPP Project

 

Saudi Electricity Company (SEC) has signed a 20-year power purchase agreement with Riyadh-based ACWA Power and Korea’s Samsung C&T for the Rabigh-2 independent power producer (IPP) project. The plant will be developed under a build-own-operate (BOO) contract by Al Mourjan for Electricity Production Company, in which ACWA and Samsung hold a combined 50% equity and SEC holds 50%. Total project cost is estimated at...