Saudi Electric

Saudi Electricity to create a power generation subsidiary
The unbundling of SEC is a centrepiece of Saudi Arabia’s energy reforms and restructuring of the power sector
SEC signs $2.15bn revolving credit facility with 8 banks
The facility is divided into two tranches, the first with a maximum of $1.578 billion, which will mature after three years, and the second with a maximum of $573 million that will mature after five years
First Saudi-made gas turbine goes into operation at new power plant
The plant, costing over SR3.75 billion, has a total capacity of 1,390 megawatt (MW) electricity, of which 50 MW will come from a solar component
Saudi Electricity, GE in partnership to boost digitalisation
As per the memorandum of understanding, SEC and GE intend to continue to work together towards accelerating the digital transformation of the Kingdom’s power sector
Saudi Electricity says Q2 profit slightly lower
The company, the largest electricity producer in Saudi Arabia made a net profit of 2.23 billion riyals ($594.6 million) in the three months to June 30, according to a bourse statement
SEC signs outline deals with Asian firms
Saudi Electricity Co (SEC) said on Thursday it had signed memorandums of understanding (MoU) with Chinese and Japanese firms

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