Siemens Energy secures $1.6bln project to advance Saudi Arabia's energy transition with new power plants
Core components for the power plants will be manufactured at the Siemens Energy Dammam Hub, which is currently expanding to increase local production capacity and support Saudi Arabia's energy sector.
Rumah 2 and Nairyah 2 will rank among the world's largest combined-cycle power plants. They will replace aging oil-fired stations, reducing CO2 emissions by up to 60% compared to traditional oil-based power generation. Additionally, the plants are being designed to be compatible with advanced CO2 capture and storage technologies, supporting Saudi Arabia's long-term emissions reduction goals.
"Supplying key technologies for the Rumah 2 and Nairyah 2 power plants directly supports Saudi Arabia's energy transition and its goal of achieving net zero emissions by 2060," said Ahmed ElSerry, Head of Gas Services Sales, Middle East. 'By manufacturing critical components at our Siemens Energy Dammam Hub, this project further strengthens local production capabilities and builds expertise within the Kingdom, contributing to a more resilient energy sector,' he added.
Siemens Energy will supply six SGT6-9000HL gas turbines, four SST6-5000 steam turbines, eight SGen6-3000W generators, two SGen6-2000P generators, and associated auxiliary equipment, with each site generating approximately 1.8 gigawatts of electricity.
This order further strengthens Siemens Energy's established presence in Saudi Arabia's Independent Power Producer (IPP) market, solidifying its role in delivering a significant share of Saudi Arabia's modern power generation. Building on the success of previous projects like Taiba 2 and Qassim 2 – which together add 4 gigawatts to the national grid – Siemens Energy continues to drive local manufacturing expansion and infrastructure modernization, playing a key role in the country's energy sector.
Rumah 2 and Nairyah 2 will initially be integrated into the grid in simple cycle mode in 2027, transitioning to full operation as combined-cycle power plants by the following year.
-Ends-
Contact for journalists
Asma Alsharif
E-mail: asma.alsharif@siemens-energy.com
Alina Mezentseva
Email: alina.mezentseva@siemens-energy.com
This press release and a press picture / press pictures / further material is available at www.siemens-energy.com/press
Follow us on LinkedIn: www.linkedin.com/company/siemens-energy/
About Siemens Energy
Siemens Energy is one of the world's leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power and heat generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers.
Its wind power subsidiary Siemens Gamesa makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 100,000 people worldwide in more than 90 countries and generated revenue of €34.5 billion in fiscal year 2024. www.siemens-energy.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
10 hours ago
- Zawya
Dollar in holding pattern before Jackson Hole, kiwi drops on dovish RBNZ
LONDON - The U.S. dollar was little changed on Wednesday as traders awaited a speech from Federal Reserve Chair Jerome Powell at the annual Jackson Hole central bankers' symposium later this week for clues on the path of monetary policy. The New Zealand dollar tumbled after the central bank reduced its cash rate by a quarter point to 3.0% as expected, and said its board had also considered a half-point cut. The dollar index, which measures the U.S. currency against six others, was down less than 0.1% at 98.265, after earlier touching a more than one week high of 98.441. Friday's speech by Powell is the market's main focus, as traders watch for any pushback against market pricing of a rate reduction at the Fed's September 16-17 meeting. Traders now place odds of about 85% on a quarter-point cut next month and expect about 54 basis points of reductions by year-end. "Powell will try to be fairly balanced, but there is a risk we see a hawkish Powell on Friday," said Kirstine Kundby-Nielsen, FX analyst at Danske Bank. "Some of the developments we've seen in inflation dynamics will keep the Fed more cautious." Traders, who ramped up bets for Fed cuts after a surprisingly weak U.S. payrolls report at the start of this month, were further encouraged after consumer price data showed limited upward pressure from tariffs. However, a hotter-than-expected producer price reading last week complicated the policy picture. Powell has said he is reluctant to cut rates because of expected tariff-driven price pressures this summer. Later on Wednesday, the Fed will issue the minutes of its meeting on July 29 and 30, when it held rates steady, although they may offer limited insight as the meeting came before the weak jobs numbers. The kiwi slumped as much as 1.3% to $0.5815, its weakest since April 11, with policymakers lowering their projected floor for the cash rate to 2.55%, from 2.85% forecast in May. "The market did not expect the bank to send a strong dovish signal that it intends to deliver further cuts," Prashant Newnaha, a rates strategist at TD Securities, wrote in a client note. He has increased his forecast for additional easing, now projecting a cash rate of 2.5% by November. The Swedish crown was steady after its central bank maintained its policy rate at 2%, in line with expectations. The euro was little changed at $1.1647. The greenback retreated 0.1% to 0.8073 Swiss franc and edged down 0.2% to 147.48 yen. The pound rose held broadly steady against the euro and dollar after hotter-than-forecast inflation, leaving Britain with the biggest price growth problem amongst the world's big rich economies. But much of the rise in services inflation was driven by volatile air fares, which some economists said was due to the timing of school holidays. "The BoE (Bank of England) is more concerned about food inflation, which hasn't changed much in today's release," ING's head of research Chris Turner said. "We doubt today's CPI release will alter much of the BoE's current thinking." In cryptocurrencies, bitcoin hovered at around $113,537 after earlier dipping to the lowest since August 3 at $112,578.38, pressured by a strengthening dollar. Ether was up 1.2% at $4,207.
Zawya
10 hours ago
- Zawya
Gold hovers near three-week lows before Jackson Hole summit
Gold ticked up on Wednesday but hovered near three-week lows, as investors looked towards the Federal Reserve's July meeting minutes and the Jackson Hole, Wyoming symposium of central bankers this week for cues on further rate cuts. Spot gold was up 0.3% at $3,325.96 per ounce, as of 1009 GMT, after reaching its lowest level since August 1. U.S. gold futures for December delivery rose 0.3% to $3,368.40. The U.S. dollar index was steady after climbing to a more than one-week high earlier in the session, making gold more expensive for other currency holders. "Spot gold is likely to adhere to its sideways range until the Fed can resume its rate-cutting cycle, while the dollar's month-to-date resilience is also making it harder for it to embark higher," said Han Tan, chief market analyst at investment trading platform Minutes of the Fed's July meeting, due later in the day, were anticipated to offer further insights into the central bank's economic outlook. "Markets will be looking out for further clues about the dissenting voices from the last FOMC meeting. Gold could even see a slight lift prior to Jackson Hole, should the FOMC minutes show that the dissenting voices at the previous Fed policy meeting were louder than envisioned," Tan added. The Fed chair Jerome Powell is due to speak at the Kansas City Federal Reserve's Jackson Hole symposium on Friday. Gold typically performs well in a low-interest-rate environment and in times of economic and geopolitical uncertainty. On the geopolitical front, U.S. President Donald Trump ruled out deploying ground troops to Ukraine on Tuesday but suggested air support could be part of a deal to end Russia's war in the region. Ukrainian President Volodymyr Zelenskiy said the White House talks were a "major step forward" towards ending the conflict and setting up a trilateral meeting with Russian President Vladimir Putin and Trump. Elsewhere, spot silver fell 0.8% to $37.06 per ounce, platinum gained 0.8% to $1,316.96 and palladium was down 0.6% at $1,108.30. (Reporting by Ishaan Arora in Bengaluru; Editing by Bernadette Baum and Barbara Lewis)
Zawya
12 hours ago
- Zawya
Dollar steady before Jackson Hole, kiwi drops on dovish RBNZ
LONDON - The U.S. dollar was little changed on Wednesday as traders awaited a speech from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium later this week for clues on the monetary policy path. The New Zealand dollar tumbled after the central bank reduced its cash rate by a quarter point to 3.0% as expected, and said its board had also considered a half-point cut. The dollar index, which measures the U.S. currency against six others, was flat at 98.319, after earlier touching a more than one week high of 98.441. Friday's speech by Powell is the market's main focus, as traders watch for any pushback against market pricing of a rate reduction at the Fed's September 16-17 meeting. Traders now place odds of about 85% on a quarter-point cut next month and expect about 54 basis points of reductions by year-end. "Powell will try to be fairly balanced, but there is a risk we see a hawkish Powell on Friday," said Kirstine Kundby-Nielsen, FX analyst at Danske Bank. "Some of the developments we've seen in inflation dynamics will keep the Fed more cautious." Traders, who ramped up bets for Fed cuts after a surprisingly weak U.S. payrolls report at the start of this month, were further encouraged after consumer price data showed limited upward pressure from tariffs. However, a hotter-than-expected producer price reading last week complicated the policy picture. Powell has said he is reluctant to cut rates because of expected tariff-driven price pressures this summer. Later on Wednesday, the Fed will issue the minutes of its meeting on July 29 and 30, when it held rates steady, although they may offer limited insight as the meeting came before the weak jobs numbers. The kiwi slumped as much as 1.3% to $0.5815, its weakest since April 11, with policymakers lowering their projected floor for the cash rate to 2.55%, from 2.85% forecast in May. "The market did not expect the bank to send a strong dovish signal that it intends to deliver further cuts," Prashant Newnaha, a rates strategist at TD Securities, wrote in a client note. He has increased his forecast for additional easing, now projecting a cash rate of 2.5% by November. The Swedish crown was steady after its central bank maintained its policy rate at 2%, in line with expectations. The euro eased 0.1% to $1.1636. The greenback advanced 0.1% to 0.8078 Swiss franc, though it edged down 0.1% to 147.61 yen. The pound rose slightly against the euro and dollar after hotter-than-forecast inflation, leaving Britain with the biggest price growth problem amongst the world's big rich economies. But much of the rise in services inflation was driven by volatile airfares, which some economists said was due to the timing of the school holidays. "The BoE (Bank of England) is more concerned about food inflation, which hasn't changed much in today's release," ING's head of research Chris Turner said. "We doubt today's CPI release will alter much of the BoE's current thinking." In cryptocurrencies, bitcoin hovered at around $113,897 after earlier dipping to the lowest since August 3 at $112,578.38, pressured by a strengthening dollar. Ether was up 1.8% at $4,234.
