Saudi Electricity, ACWA Power, KEPCO Sign SAR15 Billion Power Deal

Photo : SPA

The Saudi Electricity Company (SEC), ACWA Power, and South Korea’s KEPCO signed a big agreement on Monday with the Saudi Power Procurement Company (SPPC) for two new power plants: Rumah 1 and Nairyah 1. Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy, was there to see the signing.

The two projects will cost about SAR 15 billion (US$ 4 billion) and will produce 3.6 gigawatts (GW) of power. These projects are a key part of Saudi Arabia’s plan to use cleaner energy. The plants will use new gas turbines that help save energy and create less pollution than oil-based plants.

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The Rumah 1 and Nairyah 1 projects will also help the economy by creating jobs and using more local materials in the energy field.

Eng. Khalid Salem Al-Ghamdi, acting CEO of SEC, said this deal shows the company’s plan to improve the energy sector in Saudi Arabia and support Vision 2030. He also thanked Prince Abdulaziz bin Salman for his support in bringing in new technology and focusing on clean energy. Al-Ghamdi added that these projects show how Saudi Arabia is leading the way in cleaner and better energy.