Acwa says contract term is 31 years from commercial operation date
ACWA Power (Acwa) signed a power purchase agreement (PPA) with Saudi Power Procurement Co. (SPPC), valued at SAR 11.5 billion. 
The deal covers the Rabigh 2 independent power plant expansion, a combined-cycle gas-fired project located in Makkah, with a generation capacity of 2,313.5 megawatts and readiness for carbon capture integration.
In a statement to Tadawul, the company said the contract term is 31 years from the expected commercial operation date of the full plant. Acwa holds a 40% stake in the project.
The project includes development, financing, construction, ownership and operation of a gas-fired combined-cycle power plant. It also includes the development, financing and construction of a 380-kilovolt substation expansion.
Acwa noted the financial impact will be disclosed upon reaching financial close.
SPPC is a related party, the statement pointed out.
Acwa says contract term is 31 years from commercial operation date
ACWA Power (Acwa) signed a power purchase agreement (PPA) with Saudi Power Procurement Co. (SPPC), valued at SAR 11.5 billion.
The deal covers the Rabigh 2 independent power plant expansion, a combined-cycle gas-fired project located in Makkah, with a generation capacity of 2,313.5 megawatts and readiness for carbon capture integration.
In a statement to Tadawul, the company said the contract term is 31 years from the expected commercial operation date of the full plant. Acwa holds a 40% stake in the project.
The project includes development, financing, construction, ownership and operation of a gas-fired combined-cycle power plant. It also includes the development, financing and construction of a 380-kilovolt substation expansion.
Acwa noted the financial impact will be disclosed upon reaching financial close.
SPPC is a related party, the statement pointed out.
