ZAWYA-PROJECTS: Saudi Electricity signs $1.4bln energy conversion pact with SPPC for Rabigh 1 expansion plant
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Saudi Electricity Company (SEC) has signed a $1.42 billion Energy Conversion Agreement with Saudi Power Procurement Company (SPCC) for the Rabigh 1 expansion power plant, which has a capacity of 1,179 MW. SEC will develop, finance, build, own, and operate the carbon capture-ready combined-cycle gas turbine power plant for 25 years. This agreement follows a previous power purchase agreement signed with SPCC in November 2023.
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