The Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for five independent power producer (IPP) projects to be developed in Saudi Arabia, which total 9.2 GW and include CCGT and solar PV power projects.
The projects include the Rumah 1 and 2 and the Nairyah 1 and 2 IPP projects (rated 1.8 GW for each of the four projects), which will use combined cycle gas turbine technology with carbon capture readiness. Commissioning is expected by mid-2028. The 25-year PPAs for these projects were signed with two consortiums: ACWA Power, Saudi Electricity Company (SEC) and Korea Electric Power Corporation (KEPCO) for Rumaih-1 and Nairyah-1, and TAQA, JERA and Al Bawani Capital for Rumaih-2 and Nairyah-2. In addition, SPPC has signed a PPA with a consortium comprising Masdar, KEPCO, and GD Power Development for the 2 GW Sadawi solar PV IPP project, which is expected to be commissioned by mid-2027.
The five projects represent a total investment of SAR35bn (US$9.3bn) and align with Saudi Vision 2030 goals to achieve a balanced energy mix with 50% renewables and 50% gas.