PROJECTS: Saudi's SPPC signs PPAs for Taiba 2 and Qassim 2 IPPs

First published: 14-Nov-2023 16:15:47

Staff Writer

Saudi Power Procurement Company (SPPC), the principal off-taker for power projects in Saudi Arabia, announced on Tuesday that it has signed power purchase agreements (PPA) with the consortium developing Taiba 2 and Qassim 2 Independent Power Plant (IPP) projects.

The state-owned company announced on its X (formerly Twitter) account that the PPAs for the two combined cycle gas turbine (CCGT) power plants of 1,800 megawatt (MW) capacity each, were signed with the consortium of Al-Jomaih Energy and Water Company, EDF and Buhur for Investment Company.

While the duration of the PPAs wasn't disclosed, ACWA Power had announced on Tuesday that it had signed 25-year PPAs for Taiba 1 and Qassim 1 IPPs.

In a previous statement in October 2023, SPPC said projects will use Class H/J Gas Turbines in Combined Cycle operation for the first time in the Kingdom of Saudi Arabia and incorporate carbon capture technologies. It said the two projects are expected to attract investments of around 29.2 billion Saudi Riyals ($7.8 billion).

(Writing by Senthil Palanisamy; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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