SEC to tender four new IPPs
Saudi Electric Company to tender four IPPs in the next two years
The Saudi Electric Company’s CEO, Ali Saleh Al Barrak has announced to a conference in Riyadh that it plans to tender four independent power projects in the next two years, according to a report by Dow Jones Newswires.
The IPP projects, worth an estimated $10 billion, will follow the two IPP facilities that the SEC already has under construction in the Kingdom. A third, according to Al Barrak, is in the final stage of financial close with six international consortiums bidding on the projects.
No further details on the projects were given, but it is assumed that they will form a portion of the $80 billion spend Saudi Arabia will need to invest on infrastructure over the next decade.