Arab Today, arab today kingdom\s independent power project in rabigh
Last Updated : GMT 19:06:35
Arab Today, arab today
Arab Today, arab today

Kingdom\'s independent power project in Rabigh

Arab Today, arab today

Arab Today, arab today Kingdom\'s independent power project in Rabigh

Rabigh - Arabstoday

New and ongoing projects undertaken by Saudi Electricity Co. (SEC) will help match the rapid growth of the Kingdom\'s economy, its President & CEO Ali S. Al-Barrak said. \"We have long-term and short-term plans to meet future power demand as we have forecast for the next 20 years and confirmed demand for five years,\" he said, as he visited the Kingdom\'s landmark Independent Power Project in Rabigh to assess its progress. With $2.5 billion (SR9.37 billion) of funding, the project is being developed as a new power plant with a net capacity of around 1,204 MW at Reference Site Conditions (RSC) and associated facilities located in Rabigh, about 130 km north of Jeddah. The first phase of the project will start producing 604 MW in July this year. The Rabigh Independent Power Project (IPP) will provide power to the SEC under a 20-year Power Purchase Agreement (PPA). Several board members of Rabigh Electricity Company (RABEC) accompanied Al-Barrak on Wednesday. Saudi Arabia is trying to keep up with its growing power demand, which is rising 7 to 8 percent annually. SEC, which has an installed capacity of 50,000 MW, plans to beef up its capacity to at least 80,000 MW by 2020. SEC has earlier announced plans to invest over SR300 billion in generation, transmission, and distribution projects in the next 10 years. Al-Barrak is confident that SEC will meet the Kingdom\'s future electricity demand and keep up with rapid economic development. He said: \"SEC has already decided on which projects will be implemented every year - which will be IPP and which will be EPC ... to be built by SEC or developers.\" He added: \"We have three projects. The Rabigh project is the first one and we have already signed two more projects.\" Bids will be invited for two more projects this year and next year, he said. Al-Barrak explained that SEC had undertaken massive projects to meet the Kingdom\'s growing power needs. RABEC Chairman Mohammad A. Abunayyan and Abdulaziz Al-Mahdi, executive managing officer (EMO), welcomed Al-Barrak and the delegation and took them on a site tour to highlight the key aspects of Rabigh IPP. Abunayyan pointed out that the visit of Al-Barrak was \"nothing but explicit clear proof of SEC\'s approach to fulfilling its responsibility regarding paying great attention to the progress of such an important project.\" The Rabigh IPP is a flagship project launched by SEC in 2009 structured on a concession or utility outsourcing contract model financed using a limited recourse, project finance framework. This project, which was awarded to the consortium of ACWA Power International and the Korean Electric Power Company (KEPCO) who combined own an 80 percent share of the project and 20 percent owned by SEC. This is the first step in SEC\'s plan to open up ownership and operations to the private sector to in turn support it to meet the rapidly increasing demand for power in Saudi Arabia between 2009 and 2020. It is also the first project in the Middle East based on Chinese technology and implemented by a Chinese contractor, the consortium of Dong Fang Electric Corporation and SEPCO III. Al-Mahdi added: \"We are proceeding at steady paces toward completing all the project stages, and here we are witnessing today the benefit of selecting a Chinese contractor and technology that 84 percent of the project completed up to date.\" He also stressed that all standard tests were passed successfully. \"We look forward to completing operation stage of the first unit very soon. All these would not have been accomplished without, firstly, SEC\'s guidance and careful follow-up,\" Al-Mahdi pointed out. Construction works of Rabigh IPP commenced in July 2009 and the company has been continuously working on the project for the past two and a half years. Al-Mahdi pointed out that Rabigh IPP recently completed 23 million working hours without any injuries or lost time occurred so far. The Rabigh IPP project has also won various awards. Rabigh IPP was named as the 2009 Middle East Power Deal of the Year by Project Finance International (PFI), a Thomson Reuters publication and by Euromoney. The project will be completed in April 2013 to generate a total of 1,204 MW.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kingdom\s independent power project in rabigh Arab Today, arab today kingdom\s independent power project in rabigh

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kingdom\s independent power project in rabigh Arab Today, arab today kingdom\s independent power project in rabigh

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq Kurds in historic independence vote

GMT 15:20 2017 Monday ,25 September

Iraq Kurds in historic independence vote
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday