Shuqaiq adds power capacity

The Shuqaiq Independent Power and Water Project (IWPP) has added an additional 340MW to its capacity, as the second stage in its development comes online a month ahead of schedule, EPC contractor ACWA Power announced on Sunday.

The power plant now boasts a capacity of 680MW, which is fed into the Saudi grid. Once the third and final stage of the project is completed by the end of 2010, the plant will have a capacity of 850MW.

The Shuqaiq IWPP is owned by the Shuqaiq Water and Electricity Company, a closed Joint Stock Company in which the Saudi Public Investment Fund (PIF) holds a 32 percent stake, and of which the Saudi Electricity Company (SEC) owns 8 percent. The remaining 60 percent are split between ACWA Power International, the Gulf Investment Corporation and Mitsubishi Corp.