The Qassim 1 combined-cycle power project has a total planned generation capacity of 1,896 MW
Acwa has announced the start of initial commercial operations at the Qassim 1 combined cycle gas turbine (CCGT) power plant project. 
Acwa said it received a notice on Sept. 22, 2026, from Qudra One for Electricity Co., the project company located in Qassim, stating that it had been awarded the Initial Commercial Operation Certificate for the initial units of the Qassim 1 project, with a generation capacity of 1,283 MW out of the project’s total capacity of 1,896 MW.
Acwa owns a 40% stake in Qudra One for Electricity Co.
The company expects the financial impact to appear as of Q4 2026 onwards.
According to data compiled by Argaam, Taiba 1 and Qassim 1 are independent power plants using combined-cycle gas turbine technology, with a combined generation capacity of 3,600 MW. The projects were awarded to Saudi Energy Co. by the Saudi Power Procurement Co. (SPPC), as part of a consortium with Acwa, in October 2023. In November 2023, 25-year power purchase agreements were signed with SPPC for the two projects, which are being developed on a build-own-operate (BOO) basis.
In May 2024, Acwa signed the main financing agreements for the two projects, valued at SAR 5.69 billion for each project, with financing tenors of up to 28.1 years.
The Qassim 1 combined-cycle power project has a total planned generation capacity of 1,896 MW
Acwa has announced the start of initial commercial operations at the Qassim 1 combined cycle gas turbine (CCGT) power plant project.
Acwa said it received a notice on Sept. 22, 2026, from Qudra One for Electricity Co., the project company located in Qassim, stating that it had been awarded the Initial Commercial Operation Certificate for the initial units of the Qassim 1 project, with a generation capacity of 1,283 MW out of the project’s total capacity of 1,896 MW.
Acwa owns a 40% stake in Qudra One for Electricity Co.
The company expects the financial impact to appear as of Q4 2026 onwards.
According to data compiled by Argaam, Taiba 1 and Qassim 1 are independent power plants using combined-cycle gas turbine technology, with a combined generation capacity of 3,600 MW. The projects were awarded to Saudi Energy Co. by the Saudi Power Procurement Co. (SPPC), as part of a consortium with Acwa, in October 2023. In November 2023, 25-year power purchase agreements were signed with SPPC for the two projects, which are being developed on a build-own-operate (BOO) basis.
In May 2024, Acwa signed the main financing agreements for the two projects, valued at SAR 5.69 billion for each project, with financing tenors of up to 28.1 years.
