Saudi Arabia invites interest in 3,600 MW Taiba power project
Saudi Arabia: The project will be procured under a build, own and operate (BOO) model.
Image source: Energy & Utilities
Saudi Arabia: The project will be procured under a build, own and operate (BOO) model.
The Saudi Power Procurement Company (SPPC) has invited developers to submit expressions of interest (EOI) in the project to develop a 3,600 MW gas-fired independent power producer at Taiba, located near Medina in the western province of the kingdom. Developers have been invites to submit EOI by 23 November.
SPPC is planning to sign a power purchase agreement (PPA) with the appointed developer for a period of 25 years following the beginning of commercial operations of the plant. The project be developed under a build, own and operate structure.
Energy & Utilities reported in January that Saudi Arabia was panning to develop the Taiba IPP along with another 3.5 GW gas-fired Al-Qassim IPP project.
In February, Germany’s Fichtner Consulting was appointed as technical adviser for the two projects, with Cranmore Partners later appointed as financial adviser for the planned 3.5 GW Taibah and Al-Qassim IPP projects.
In August, it was reported that UK-based Linklaters had been appointed as the legal adviser for two planned projects.
The Saudi Electricity Company (SEC) first planned to develop a large project in Taiba in 2015, initially as a 3,780 MW integrated solar combined cycle (ISCC) project. The project had been tendered as an engineering, procurement and construction contract, with a separate original equipment manufacturer contractor to be appointed.
However, the tender was cancelled as the kingdom switched strategy back towards the independent power producer (IPP) model.
The last contract that SEC awarded for a major gas-fired IPP was for the 1.5 GW Fadhili IPP in 2016. The project was jointly tendered by SEC and state oil company Saudi Aramco, with SEC the offtaker for electricity and Aramco the offtaker for steam and water produced by the cogeneration project.
Source: Energy & Utilities
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