| Element List | Explanation |
|---|---|
| Introduction | ACWA Power Company announces the signing of a PPA with SPPC for large-scale Combined Cycle Gas Turbine (“CCGT”) Power Plant, namely Qurayyah IPP Expansion Project. The Project is located in the Eastern province of Saudi Arabia, with a power generation capacity of 3,010 MW with Readiness to Build Carbon Capture Units. ACWA Power holds an effective shareholding of 40% in the Project. |
| Date of Announcement of the Award | 2025-02-19 Corresponding to 1446-08-20 |
| Contract Subject Matter | Power Purchase Agreement (“PPA”) |
| The Entity with Which the Contract was Signed | Saudi Power Procurement Company |
| Date of Signing the Contract | 2025-02-19 Corresponding to 1446-08-20 |
| Contract Value | SAR 13.4 billion |
| Contract Details | 1- Development, Financing, Building, Owning and Operating a natural gas-sourced CCGT power plant 2- Development, Financing, Building, and Transferring a 380kV electrical substation. |
| Contract Duration | 25 years from the plant’s expected project commercial operation date. |
| Financial Impact and the Relevant Period | The financial impact of the operation will be announced once the Project achieves it financial close. |
| Related Parties | Saudi Electricity Company (SEC). |
