Saudi Power Procurement Company (SPPC) and Al Jomaih Energy & Water, which leads a consortium comprising of Buhur for Investment Company and EDF, announced the signing of power purchase agreements (PPA) for the construction and operation of the Taiba-2 and Qassim-2 Combined Cycle Gas Turbine (CCGT) projects for a period of 25 years.
These two projects will produce a total capacity of 3600 MW, encompassing 1800 MW for the Taiba-2 project, and 1800 MW for the Qassim-2 project with a total value of SAR 14.6 billion.
Taiba-2 and Qassim-2 will contribute to the provision of clean energy to approximately 1.5 million housing units annually, in line with the Saudi Green Initiative aimed at reaching carbon neutrality by 2060.
Commenting on this milestone, Ibrahim Al Jomaih, Chairman of the Board, Al Jomaih Energy & Water, said: "In our quest to enable a sustainable future, Al Jomaih Energy & Water is honoured to come together with the Saudi Power Procurement Company (SPPC) for the signing of these pivotal agreements for Taiba-2 and Qassim-2 decarbonized CCGT projects, in support of Saudi Vision 2030. We would like to take this opportunity to thank the SPPC, our partners and lenders for their continued support and trust in Al Jomaih Energy & Water."
Abdulrahman Bajunaid, CEO of Al Jomaih Energy & Water, stated: "Securing the Taiba-2 and Qassim-2 CCGT projects, a first of their kind in the region, reinforces Al Jomaih Energy & Water’s position as a competitive and agile player in the utilities space. We pride ourselves on our local market knowledge, technical expertise, and speed of decision-making, partnering with our stakeholders to realise a shared purpose with an unrelenting commitment to excellence. The signing of these agreements is a testament to our role in the energy transition, and our future ambitions as a Saudi Champion."
The two projects will feature the latest Type (H) gas turbine technologies with high technical efficiency in combined-cycle operation, which allows the use and operation of carbon capture technologies by Saudi companies, in line with the objectives of energy sustainability and enhancing local content in the Kingdom.
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