The Saudi Electricity Company (SEC), ACWA Power, and South Korea’s KEPCO have signed a power purchase agreement (PPA) with Saudi Power Procurement Company (SPPC) for two independent power generation projects: Rumah 1 and Nairyah 1.
With investments of around SR15bn ($4bn) and a total capacity of 3.6 gigawatts (GW), these projects constitute a pivotal step in the Kingdom’s journey towards achieving a sustainable energy future.
The projects utilise state-of-the-art gas turbines with a combined cycle system, enabling the replacement of oil-based electricity production processes with more sustainable options, directly contributing to reducing carbon emissions and protecting the environment.
Saudi power deal
Rumah 1 and Nairyah 1 are set to enhance economic growth by providing job opportunities and bolstering local content contribution.
SEC acting chief executive Eng. Khalid Salem Al Ghamdi emphasised that the agreement reflects the company’s commitment to driving the energy sector transformation in the Kingdom in line with Vision 2030.
Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz attended the signing ceremony.
Al Ghamdi highlighted the ongoing support provided by Prince Abdulaziz bin Salman, empowering the company to employ cutting-edge technologies and focusing on sustainability.
He stated that Rumah 1 and Nairyah 1 serve as examples of the Kingdom’s leadership in delivering cleaner and more efficient energy solutions.
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