Latest news with #CombinedCycleGasTurbine
Zawya
03-04-2025
- Business
- Zawya
12 firms eye bids for Oman's gas power projects
MUSCAT: Leading international power developers are among a dozen companies that have signaled their interest in competing for contracts to develop one of Oman's biggest gas-based Independent Power Projects (IPPs), comprising twin plants with a combined capacity of 2,400 MW. The list includes global heavyweights such as ACWA Power, Marubeni Corporation, Reliance Power, Sembcorp Utilities, Samsung C&T Corporation, and Sumitomo Corporation. They are among 12 companies that had submitted Statements of Qualifications demonstrating their technical capabilities and financial wherewithal to develop the IPPs on a Build, Own and Operate (BOO) basis, Nama Power and Water Procurement Company (PWP) – the sole procurer of new capacity in Oman – announced on Sunday, March 30, 2025. Sites at Misfah in Bausher Wilayat (Muscat Governorate) and Duqm in Al Wusta Governorate have been identified for the establishment of the two IPPs. Based on advanced thermal Combined Cycle Gas Turbine (CCGT) technology, the two projects will be the first such capacity to be developed in Oman for nearly a decade, when they come into operation during the 2028-29 timeframe. Also in contention for the contracts at this stage of the competitive procurement process are: Korea Western Power Co Ltd, Nebras Power, Al Ghanim International, Etihad Water and Electricity Company, Shenzhen Energy Group, and Al Jomaih Energy & Water Co. Nama PWP officials have stressed that new gas-based capacity is critical to addressing intermittency challenges as Oman presses ahead with its ambitious strategy to deploy renewable resources – chiefly solar and wind – to progressively decarbonize the power generation sector. The new IPPs will also help supplant older generation capacity which is not only less energy efficient, but also slated to fall out of contract in the coming years. Ahmed bin Salim al Abri, Chief Executive Officer of PWP, outlined this imperative in an earlier statement to the Observer: 'This project will enhance grid stability in Oman by integrating advanced thermal power plants, ensuring reliable and sustainable energy through a balanced energy mix. It marks a significant step in the company's ongoing commitment to providing a sustainable energy future for Oman.' In the next stage of the competitive process, a Request for Proposals (RfP) is expected to be issued to the prequalified participants before the end of Q2 2025, with an award likely before the end of this year. The new capacity is scheduled to be operational by Q2 2029 with early power provision by Q2 2028. In parallel with the procurement of these gas-based schemes, Nama PWP has also unveiled plans for the procurement of a major portfolio of solar and wind based IPPs designed to lift the contribution of renewables to around 40 per cent of total generation capacity by around 2030. Investment inflows totalling around $5 billion are anticipated in this sector over this timeframe. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
24-02-2025
- Business
- Zawya
SEC, ACWA Power sign 25-Year PPA for 3,010 MW Qurayyah IPP expansion
A consortium of Saudi Electricity Company (SEC), ACWA Power and Haji Abdullah Alireza and Co (HAACO) has signed a 25-year Power Purchase Agreement (PPA) with Saudi Power Procurement Company (SPPC) for the 3,010 MW Qurayyah Independent Power Plant (IPP) Expansion Project in Saudi Arabia's Eastern Province. SEC said in a statement that the 13.4 billion Saudi riyals ($3.6 billion) project involves construction and operation of carbon capture ready Combined Cycle Gas Turbine (CCGT) Power Plant under a Develop, Finance, Build, Own, and Operate model and a 380kV electrical substation under Develop, Build and Transfer model. SEC holds a 40 percent effective share in the project, the statement said. It said the PPA, signed on 19 February, will take effect from the plant's commercial operation date, with the financial impact expected to be reflected from the second quarter of 2028 onwards. No specific timeline construction was disclosed. In October 2024, Zawya Projects had reported that Saudi Arabia plans to tender 6 gigawatts (GW) of CCS-ready gas power plants in 2025. SEC and ACWA Power are stakeholders in Hajr Electricity Production Company (HEPC), the project company for the existing 3,927MW Qurayyah IPP, which was built at a cost of $2.7 billion. (Writing by Deva Palanisamy; Editing by Anoop Menon) (
Asharq Al-Awsat
20-02-2025
- Business
- Asharq Al-Awsat
Saudi Electricity Company, ACWA Power Sign Power Purchase Agreement for Qurayyah IPP Expansion Project
The Saudi Electricity Company (SEC) and ACWA Power have announced the signing of a Power Purchase Agreement (PPA) for the Qurayyah Independent Power Plant (IPP) Expansion Project with the Saudi Power Procurement Company (SPPC – Principal Buyer). The expansion involves the development of a Combined Cycle Gas Turbine (CCGT) power plant, located on the shore of Qurayyah in the Eastern Region of Saudi Arabia, with a production capacity of 3,010 megawatts (MW) and readiness to build a carbon capture unit. The total project value amounts to SAR13.4 billion, SEC said in a statement. SEC will hold a 40% stake, while ACWA Power will own an equal share in the project, according to the statement. The initiative aims to enhance energy reliability and sustainability in the Kingdom, utilizing cutting-edge gas turbine technology in a combined cycle system. This will allow the replacement of oil-based power generation with more sustainable alternatives, directly reducing carbon emissions and supporting environmental protection, in alignment with Saudi Vision 2030 and its ambitious sustainability targets. This project is among the largest power generation initiatives in Saudi Arabia, encompassing the development, financing, construction, ownership, and operation of a gas-fired combined cycle power plant, as well as the development, financing, construction, and transfer of a 380 kV electrical substation.
Argaam
20-02-2025
- Business
- Argaam
Saudi Electricity Company and ACWA Power Sign Power Purchase Agreement for 3,010 MW Qurayyah IPP Expansion Project Worth SAR 13.4 Billion
The Saudi Electricity Company (SEC) and ACWA Power have announced the signing of a Power Purchase Agreement (PPA) for the Qurayyah IPP Expansion Project with the Saudi Power Procurement Company (SPPC – Principal Buyer). The expansion involves the development of a Combined Cycle Gas Turbine (CCGT) power plant, located on the shore of Qurayyah in the Eastern Province of Saudi Arabia, with a production capacity of 3,010 megawatts (MW) and readiness to build a carbon capture unit. The total project value amounts to SAR 13.4 billion. SEC will hold a 40% stake, while ACWA Power will own an equal share in the project. The initiative aims to enhance energy reliability and sustainability in the Kingdom, utilizing cutting-edge gas turbine technology in a combined cycle system. This will allow the replacement of oil-based power generation with more sustainable alternatives, directly reducing carbon emissions and supporting environmental protection, in alignment with Saudi Vision 2030 and its ambitious sustainability targets. This project is among the largest power generation initiatives in Saudi Arabia, encompassing the development, financing, construction, ownership, and operation of a gas-fired combined cycle power plant, as well as the development, financing, construction, and transfer of a 380 kV electrical substation. SEC is the largest producer, transmitter, and distributor of electrical power in the Middle East and North Africa, and the Kingdom's primary electricity provider, serving over 11 million customers. Meanwhile, ACWA Power is the world's largest water desalination company, a leader in energy transition, and a first mover in green hydrogen development.
