The Saudi Power Procurement Company (Principal Buyer) has signed a Power Purchase Agreement (PPA) for the expansion of the Qurayyah Independent Power Plant (QIPP), adding combined cycle power plant units with a total capacity of 3,010 MW. The project, overseen by the Ministry of Energy, also includes provisions for future carbon capture units, aligning with Saudi Arabiaโs energy efficiency and sustainability goals.
The agreement was signed with a consortium led by ACWA Power, alongside the Saudi Electricity Company (SEC) and Haji Abdullah Alireza & Co. Ltd. The expansion project represents an investment of approximately SAR13.35 billion.
This initiative supports Saudi Vision 2030 by enhancing electricity generation efficiency, reducing operational costs, and optimizing the energy mix to phase out liquid fuels in the Kingdomโs power sector.
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