Riyadh - Mubasher: Saudi Electricity Company (SEC) penned power purchase agreements (PPAs) worth SAR 12.83 billion with the Saudi Power Procurement Company (SPPC) on 23 October.
The deals cover the development of two large-scale combined-cycle gas turbine (CCGT) power plants in Riyadh, according to a bourse filing.
Combined, the plants will have a total production capacity of 3,356 megawatts (MW).
Located in Riyadh, the PP13 and PP14 projects are wholly owned by SEC, each with a capacity of 1,678 MW.
The 21-year contracts are expected to have a financial impact starting in 2025 and continuing throughout their duration.
On 16 September, SEC signed a SAR 198.50 million agreement with WESCOSA and the Saudi Transformers Company, both subsidiaries of Electrical Industries Company (EIC).
