Saudi Electricity Company (SEC) has announced the signing of an Energy Conversion Agreement (ECA) for the purchase of energy produced from the Rabigh 1 Expansion Power Plant with the Saudi Power Procurement Company (SPPC), acting in its capacity as the Principal Buyer (PB). The agreement marks a significant milestone in strengthening Saudi Arabia’s power generation capacity through advanced and efficient technologies.
The Rabigh 1 Expansion Project is a large-scale Combined Cycle Gas Turbine (CCGT) power plant with readiness to integrate a carbon capture unit, aligning with the Kingdom’s long-term sustainability and emissions reduction goals. Located in the Western Province of Saudi Arabia, the project will have a total production capacity of 1,179 megawatts (MW), contributing substantially to meeting growing electricity demand in the region.
The ECA was signed between SPPC and SEC on behalf of the project company, in which SEC holds an effective 100 percent shareholding. The total value of the contract is estimated at SAR 5.33 billion.
The project scope includes the development, financing, construction, ownership, and operation of the gas-fired combined cycle power plant.
The project will be implemented under a 25-year agreement starting from the commercial operation date, reinforcing SEC’s commitment to reliable power supply and energy transition initiatives in the Kingdom.
