Latest news with #TecnicasReunidas
Zawya
06-08-2025
- Business
- Zawya
Tecnicas-Sincopec win FEED contract for Yanbu Green Hydrogen Project
Saudi Arabia - Acwa Power, the world's largest private water desalination company and a leader in energy transition and first mover into green hydrogen, has announced that it has signed up a consortium of Spanish engineering firm Tecnicas Reunidas and Chinese group Sinopec Guangzhou Engineering to provide convertible front-end engineering design (FEED) services for its Yanbu Green Hydrogen Project in Saudi Arabia. Under the terms of the agreement, the consortium will provide FEED for a facility with a production capacity of 400,000 tonnes of green hydrogen annually, and its conversion into green ammonia through several ammonia synthesis loops. The contract will span 10 months, after which the joint venture will present an engineering, procurement and construction (EPC) proposal for the execution of this multibillion facility, which shall be ready for commercial operations by 2030. Tecnicas Reunidas has been involved in the project since pre-FEED stages and Sinopec Guangzhou Engineering gives continuity with this award to the MoU signed with Acwa Power in 2024. With commissioning targeted for 2030, the Yanbu Green Hydrogen project will contribute to the decarbonisation of hard-to-abate sectors through its base in Yanbu Industrial City. It aims to utilise 5 GW each of wind and solar power, coupled with a 400 km transmission line and up to 4.4 GW of electrolysers to annually produce 400,000 tonnes of green hydrogen, which will be converted to 2.5 million tonnes of green ammonia to facilitate its export to international markets. Commenting on the award, Acwa Power CEO Marco Arcelli said: "The rapid pace of development on the Yanbu Green Hydrogen Project is a clear demonstration of our commitment to supporting the kingdom's long-term energy security while also taking a leadership role in the global transition to sustainable energy." "By developing and exporting green ammonia, we aim to support international markets in their decarbonisation efforts and pave the way for a cleaner, more sustainable world," he stated. Eduardo San Miguel, CEO at Tecnicas Reunidas, said: "This new contract represents a highly significant milestone for Técnicas Reunidas. It is a strategic international energy project that strengthens the cooperation between Saudi Arabia and Europe, in collaboration with our client Acwa Power." "The project reaffirms our strong commitment to the Saudi market and marks a major step forward in our strategy in energy transition and decarbonisation and it also reinforces our successful partnership with Sinopec," he added. Han Weiguo, President at Sinopec Guangzhou Engineering, said: "This project represents a significant leap forward in the global green energy sector and a pivotal milestone in green energy advancement. It will drive global energy transformation and lead the industry toward a sustainable green future." Sinopec Guangzhou Engineering will collaborate closely with the client Acwa Power and its partner TR to facilitate the implementation of this mega project and make a significant contribution to global green energy development, he added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
06-08-2025
- Business
- Zawya
Adnoc Gas expects investments to top $3bln on growth projects in 2025
Adnoc Gas, a subsidiary of oil giant Abu Dhabi National Oil Company (Adnoc), expects total investments to reach around $3 billion in 2025 as its flagship MERAM project reaches peak activity ahead of start-up. The MERAM project focuses on maximizing ethane recovery and monetisation for sale to the Borouge 4 petrochemicals project, currently under construction at Ruwais, the company said in its Q2 2025 financial statement published on the Abu Dhabi stock exchange. The company advanced the previously announced MERAM project in the first half of 2025, as the Engineering, Procurement, and Construction contract of $3.6 billion (AED13.1 billion) was awarded to the joint venture between National Petroleum Construction Company and Spain's Tecnicas Reunidas in 2023. The MERAM project aims to increase ethane extraction by a range of 35 - 40 percent, from ADNOC Gas' existing onshore facilities in the Habshan complex through the construction of new gas processing facilities; and unlock further value from existing feedstock and deliver it to Ruwais via a dedicated 120 km natural gas liquids pipeline. In addition, Adnoc Gas took a $5 billion final investment decision on the first phase of the Rich Gas Development project, which propels it to achieve more than 40 percent EBITDA growth by 2029. Capital expenditure (capex) reached $1.22 billion in the first six months of 2025, primarily allocated to growth projects, the statement said. The company allocated $217 million of the total capex to sustaining assets and supporting turnaround activities, which are crucial for extending their technical life and ensuring operational excellence. (Editing by Anoop Menon) (
Zawya
01-08-2025
- Business
- Zawya
ACWA Power Awards Tecnicas reunidas and Sinopec Guangzhou Engineering with FEED Contract for Yanbu Green Hydrogen Project
The Tecnicas Reunidas and Sinopec Guangzhou Engineering joint venture has been awarded a convertible FEED contract for the Yanbu Green Hydrogen Project The facility will produce 2.5 million tonnes of green ammonia annually, equivalent to 400,000 tonnes of green hydrogen Riyadh, Kingdom of Saudi Arabia: ACWA Power, the world's largest private water desalination company, a leader in energy transition and first mover into green hydrogen, today announced that Spanish engineering firm Tecnicas Reunidas and Sinopec Guangzhou Engineering, one of China's leading energy and chemical engineering companies have been awarded a convertible front-end engineering design (FEED) contract for the Yanbu Green Hydrogen Project in Saudi Arabia. Under the terms of the agreement, the consortium will provide FEED for a facility with a production capacity of 400,000 tonnes of green hydrogen annually, and its conversion into green ammonia through several ammonia synthesis loops. The FEED contract will span 10 months, after which the joint venture will present an engineering, procurement and construction (EPC) proposal for the execution of this multibillion facility, which shall be ready for commercial operations by 2030. Tecnicas Reunidas has been involved in the project since pre-FEED stages and Sinopec Guangzhou Engineering gives continuity with this award to the MoU signed with ACWA Power in 2024. With commissioning targeted for 2030, the Yanbu Green Hydrogen project will contribute to the decarbonisation of hard-to-abate sectors through its base in Yanbu Industrial City. It aims to utilise 5 GW each of wind and solar power, coupled with a 400 km transmission line and up to 4.4 GW of electrolysers to annually produce 400,000 tonnes of green hydrogen, which will be converted to 2.5 million tonnes of green ammonia to facilitate its export to international markets. Commenting on the award, Marco Arcelli, Chief Executive Officer at ACWA Power, said: 'The rapid pace of development on the Yanbu Green Hydrogen Project is a clear demonstration of our commitment to supporting the Kingdom's long-term energy security while also taking a leadership role in the global transition to sustainable energy. By developing and exporting green ammonia, we aim to support international markets in their decarbonisation efforts and pave the way for a cleaner, more sustainable world.' Eduardo San Miguel, CEO at Tecnicas Reunidas, said: "This new contract represents a highly significant milestone for Técnicas Reunidas. It is a strategic international energy project that strengthens the cooperation between Saudi Arabia and Europe, in collaboration with our client ACWA Power. The project reaffirms our strong commitment to the Saudi market and marks a major step forward in our strategy in energy transition and decarbonisation and it also reinforces our successful partnership with Sinopec. We are deeply honoured to have been selected by ACWA Power to undertake this landmark project." Han Weiguo, President at Sinopec Guangzhou Engineering, said: 'This project represents a significant leap forward in the global green energy sector and a pivotal milestone in green energy advancement. It will drive global energy transformation and lead the industry toward a sustainable green future. SINOPEC Guangzhou Engineering will collaborate closely with the client ACWA Power and our partner TR to facilitate the implementation of this mega project and make a significant contribution to global green energy development.' The project leverages Saudi Arabia's potential to develop and serve global industrial demand with clean energy solutions. It also underscores ACWA Power's commitment to developing innovative and sustainable energy solutions that contribute to the Kingdom's clean energy objectives and ensure a sustainable future for millions across the globe. About ACWA Power ACWA Power (TADAWUL:2082) is a Saudi-listed company and the world's largest private water desalination company, the first mover into green hydrogen, and a leader in the global energy transition. Registered and established in 2004 in Riyadh, Saudi Arabia, ACWA Power employs over 4,000 people and is currently present in 15 countries in the Middle East, Africa, Central Asia, and Southeast Asia. ACWA Power's portfolio comprises 109 projects in operation, advanced development, or under construction with an investment value of SAR 439 billion (USD 117 billion) and the capacity to generate 94GW of power and manage 9.9 million m3/day of desalinated water. This energy and water are delivered on a bulk basis to address the needs of state utilities and industries on long-term, off-taker contracts under utility services outsourcing and public-private partnership models.
Korea Herald
27-05-2025
- Business
- Korea Herald
Doosan Enerbility secures W340b deal for Saudi power plant projects
Korean energy solutions provider Doosan Enerbility announced Tuesday that it has secured contracts totaling 340 billion won ($248.7 million) to supply key power generation equipment for two combined cycle gas turbine power plant projects in Saudi Arabia. Under two recent agreements, the company will supply four 650-megawatt steam turbines and four 540-megawatt power generators for the Ghazlan 2 and Hajar combined cycle power plant expansions — two turbines and two power generators for each plant, the company said. Both projects are located in Saudi Arabia's eastern region, approximately 400 kilometers from the capital, Riyadh, and are scheduled for completion by 2028. According to Doosan Enerbility, the agreements were signed with a joint engineering, procurement and construction consortium comprising Spain's Tecnicas Reunidas and Egypt's largest construction firm, Orascom Construction. 'Backed by the trust and technological expertise we have built in the Middle East over more than 40 years, we continue to secure new projects in the region,' said Sohn Seung-woo, CEO of Doosan Enerbility's Power Service Business Group. 'We are committed to delivering high-quality products on time and will do our utmost to strengthen customer confidence and secure follow-up projects in the future.' With this latest deal, the company has racked up a total of nine steam turbine orders in Saudi Arabia since 2024. Leveraging its expertise in this technology, Doosan Enerbility has held the top global market share for ultra-large steam turbines — units with capacities over 300 megawatts — over the past five years, accounting for 33.1 percent of the 22.1 gigawatts installed worldwide.
Reuters
24-03-2025
- Business
- Reuters
Tecnicas Reunidas, Orascom secure $2.6 billion contract in Saudi Arabia
March 24 (Reuters) - Spain's Tecnicas Reunidas ( opens new tab and Egypt's Orascom ( opens new tab have secured a $2.6 billion contract to expand a 3 gigawatt combined cycle gas-fired power plant in Saudi Arabia, the Egyptian engineering company said on Monday. The agreement, a 50-50 joint venture, will include readying carbon capture infrastructure and will include a 380-kilovolt (kV) electrical substation, Orascom said. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. The project is part of a number of contracts signed by Tecnicas Reunidas in the past months in the Middle East and elsewhere that will allow it to triple its net profit in 2026 from 2023. The Spanish company, which specialises in building energy infrastructure, has seen its shares jump almost 50% so far this year as it recovers from an energy investment contraction following the pandemic and the war in Ukraine.
