Saudi Electricity Company, ACWA Power, & KEPCO Ink SAR 15 Billion Deal For Rumah 1 And Nairyah 1 Projects In Presence Of Energy Minister

Saudi Electricity Company (SEC), ACWA Power, and Korea Electric Power Corporation (KEPCO) have partnered with Saudi Power Procurement Company (SPPC) to launch two major power projects: Rumah 1 and Nairyah 1. Together, these projects will generate 3.6 GW of energy, marking a big step toward cleaner and more sustainable power in Saudi Arabia. Using advanced gas turbines in a combined cycle setup, the projects will replace oil-based power plants, cutting carbon emissions and promoting environmental sustainability. With a total investment of SAR 15 billion (USD 4 billion), the initiative will also boost the economy by creating jobs and supporting local industries.

Engineer Khalid Salem AlGhamdi, Acting CEO of Saudi Electricity Company, said in a statement, “This milestone agreement underscores SEC’s commitment to driving Saudi Arabia’s energy transition in alignment with Vision 2030 and the continuous support the company receives from His Royal Highness Prince Abdulaziz bin Salman, the Minister of Energy. By integrating cutting-edge technology and prioritizing sustainability, the Rumah 1 and Nairyah 1 projects demonstrate our leadership in delivering cleaner, more efficient energy solutions. These projects also lay the foundation for future innovations such as carbon capture, reaffirming SEC’s pivotal role in achieving the Kingdom’s ambitious net-zero emissions goals.”

The Rumah 1 and Nairyah 1 power projects reflect Saudi Arabia’s commitment to balancing renewables and gas-fired plants as part of its 2030 energy strategy. These Combined Cycle Gas Turbine (CCGT) facilities will also be ready for future carbon capture systems, supporting the Saudi Green Initiative’s goal of achieving net-zero emissions by 2060.

This milestone showcases Saudi Arabia’s dedication to sustainable energy and innovation. By embracing advanced technology and strong partnerships, SEC, ACWA Power, and KEPCO are driving the nation’s vision of a cleaner and more resilient energy future while cementing its position as a global leader in energy transition.

Marco Arcelli, CEO of ACWA Power, also mentioned, “The signing of the Power Purchase Agreements (PPAs) exemplifies the strength of collaboration in propelling our collective journey toward a sustainable energy future. These projects are representing an essential step in achieving the optimal energy mix objectives outlined in Saudi Vision 2030, while simultaneously aligning with the Saudi Green Initiative’s goals for carbon neutrality. We are privileged to play a role in the Kingdom’s energy transformation by deploying efficient technologies that yield both economic and environmental advantages.”