Saudi Power Procurement Company (SPPC) signed Power Purchase Agreements (PPAs) for the 1800 MW Taiba 1, Taiba 2, Qassim 1, Qassim 2 Independent Power Plants (IPP) under the Ministry of Energy's supervision. PPAs for the 3600 MW Taiba 1 & Qassim 1 IPP were negotiated with a consortium that included the Saudi Electricity Company(SEC) as a Managing Member, and ACWA Power as Technical Member.
The consortium comprising Al-Jomaih Energy and Water Company as Managing Member, EDF as Technical Member, and Buhur for Investment Company as Consortium Member signed the PPAs for the Taiba 2 & Qassim 2 IPP, which have a combined capacity of 3600 MW. This is on top of the Rabigh Power Plant expansion project, which included adding a block of 1200 MW combined cycle gas turbine units. Saudi Power Procurement Company had previously granted permission for Saudi Electricity Company to move forward with this project's implementation.
The combined 8400 MW of projects will help supply electricity to almost 3.5 million residential units each year. These projects are an extension of the energy ecosystem's efforts to realise the goals of Vision 2030, improve the efficiency of electricity generation, and lower costs by replacing liquid fuels in the Kingdom's power sector and diversifying energy production sources to achieve the ideal energy mix.