State firm SEC has lined up $3bn of funding from Korea as it looks to build new power plants to keep ahead of surging demand. Meanwhile SEC is looking to increase efficiency, including through gas/solar power plants.

Saudi Electricity Company (SEC) this week signed a framework agreement with The Export-Import Bank of Korea (Kexim) which will give the state electricity firm access to a line of credit of up to $3bn. The money can be utilized over three years to fund projects with South Korean...