Saudi Electricity Co. announced the signing of a Power Purchase Agreement (PPA) with Saudi Power Procurement Company – Principal Buyer (SPPC) for the Qurayyah IPP Expansion Project, a large-scale Combined Cycle Gas Turbine (CCGT) power plant in the Eastern Province of Saudi Arabia.
The project, valued at SAR 13.4 billion, will have a production capacity of 3,010 MW and is designed with readiness for carbon capture.
According to a statement on Tadawul, the project includes:
- Development, financing, construction, ownership, and operation of a gas combined cycle power plant.
- Development, financing, construction, and transfer of a 380kV electrical substation.
The project has a duration of 25 years from its commercial operation date, with the financial impact expected to be reflected starting from Q2 2028.
