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Wed 30 Dec 2015 05:35 PM

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Saudi Electricity Co inks deal for $979m power plant project

State utility to build combined cycle power plant in Waad Al Shamal; will include solar component

Saudi Electricity Co inks deal for $979m power plant project

Saudi Electricity Co (SEC) signed a 3.677 billion riyal ($979.91 million) deal to build a combined cycle power plant in Waad Al Shamal, it announced in a statement on state news agency SPA on Wednesday.

The plant will have a total capacity 1390 megawatt (MW), of which 50 MW will come from a solar component, the statement said. The solar energy will save the equivalent of 4 million barrels of fuel over the course of the project.

Including the cost of connecting the plant to the electricity grid, the project's total costs are expected to reach 4.67 billion riyals.

Waad Al Shamal is in the north of the kingdom.

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