The company plans to establish its footprint in over 1,000 locations and deploy more than 5,000 fast chargers across Saudi Arabia by 2030
Saudi Electricity Company
Posted inNEWS, POWER
Saudi’s SEC awards multi-million dollar power project to KEIR
The project involves the laying of high-voltage underground cables to connect the West Taiba station within the program to strengthen major cities in Madinah.
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Saudi Electricity successfully issues $2bn worth of sukuk tranches
This issuance of sukuk is in line with the company’s strategy to diversify its financing sources and expand its investor base in international markets
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Saudi Electricity to raise $2bn through dual-tranche sukuk including green tranche
Saudi Arabia’s electric transmission monopoly is launching $1.2 billion in 10-year green sukuk at a spread of 120 basis points over US Treasuries and $800 million in 30-year conventional sukuk at 205 basis points over UST
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Japan’s JBIC extends $207mn loan to SEC for the Saudi Arabia–Egypt power interconnection project
The project will construct a 3,000 MW high-voltage direct current (HVDC) system with 1,350 km of overhead power lines and 22 km of submarine cables to connect northwestern Saudi Arabia and Egypt
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​​Saudi Electricity signs key automation deal with Saudi British Bank
This agreement is part of a larger effort to improve cross-sector collaboration in order to meet Vision 2030 objectives
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Saudi Electricity secures $720mn deal to boost smart grid infrastructure
This is part of the company’s strategy to contribute to improving the efficiency and quality of electrical services in the Kingdom as SEC wants to ensure ease of fault detection and faster processing
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Saudi Electricity transfers all its stake in Power Procurement Company
Saudi Electricity Company has transferred its entire stake in the Saudi Power Procurement Company to the Saudi government
Posted inNEWS, POWER
Saudi Electric transfers ownership of its subsidiary to government
The move comes as part of the Saudi electricity sector’s restructuring program and is a continuation of the regulatory and structural reforms announced last year