ACWA Power signs SAR 14.6 bln PPAs for 2 projects

ACWA Power signed on Nov. 13 power purchase agreements (PPAs) with Saudi Power Procurement Co. (SPPC) - Principal Buyer - for two large-scale combined cycle gas turbines (CCGT) power plants. The two plants are Taiba 1 and Qassim 1 for SAR 14.6 billion ($3.9 billion). 

The two projects are located in Madinah and Qassim with a production capacity of 1,800 megawatt (MW) for each plant, the utility said in a statement to Tadawul. 

The financial impact of the operation is expected to show after the end of H1 2027, ACWA Power added, noting that there are no related parties. 

Source: Argaam