Saudi Electricity Co. headquarters
Saudi Electricity Co. (SEC) signed on Jan. 21 an energy conversion agreement with the Saudi Power Procurement Co. (Principal Buyer) forthepurchase of energy produced fromtheRabigh 1 expansion power plant for SAR 5.33 billion, according to a Tadawul statement. 
The deal aims to purchase energy produced from Rabigh 1 expansion power plant for large-scale combined cycle gas turbine (CCGT) power plant with readiness to build carbon capture unit.
The project, located in the Western province, operates with a production capacity of 1,179 MW.
The agreement was signed between Saudi Power Procurement Co., in its capacity as the principal buyer, and SEC on behalf of the project company.
SEC holds an effective shareholding of 100 % in the project that aims for development, financing, build, own and operate a gas combined cycle power plant.
The project duration is 25 years from the plant commercial operation date.
The financial impact is expected to appear upon full commercial operation of the plant, starting from the second quarter of 2027.
Saudi Electricity Co. headquarters
Saudi Electricity Co. (SEC) signed on Jan. 21 an energy conversion agreement with the Saudi Power Procurement Co. (Principal Buyer) forthepurchase of energy produced fromtheRabigh 1 expansion power plant for SAR 5.33 billion, according to a Tadawul statement.
The deal aims to purchase energy produced from Rabigh 1 expansion power plant for large-scale combined cycle gas turbine (CCGT) power plant with readiness to build carbon capture unit.
The project, located in the Western province, operates with a production capacity of 1,179 MW.
The agreement was signed between Saudi Power Procurement Co., in its capacity as the principal buyer, and SEC on behalf of the project company.
SEC holds an effective shareholding of 100 % in the project that aims for development, financing, build, own and operate a gas combined cycle power plant.
The project duration is 25 years from the plant commercial operation date.
The financial impact is expected to appear upon full commercial operation of the plant, starting from the second quarter of 2027.
