Multiple global power players, including Acwa Power, Taqa and Siemens, are vying for the opportunity to develop 7.2 gigawatts (GW) of power projects in Saudi Arabia.
The Saudi Power Procurement Company (SPPC) has disclosed that 21 top utility project developers, such as Siemens, Samsung, GE, EDF, Kepco, Marubeni, Acwa Power, and Taqa, have been prequalified for the construction of four power plants across the kingdom, each with a capacity of 1,800 MW.
The projects are geographically distributed, with two located in the central region (Rumah1 & Rumah2) and two in the eastern region (Nairyah1 & Nairyah2).
All plants are slated to operate using natural gas combined cycle technology, with provisions for carbon capture unit readiness, aligning with the Saudi Green Initiative’s goal to achieve net-zero greenhouse gas emissions through a circular carbon economy approach by 2060.
Among the prequalified bidders are industry giants like Siemens, GE, EDF, Engie, Samsung, Kepco, Marubeni, Mitsubishi, and Kansai Electric Power, alongside regional contenders such as Taqa, Jera, Gulf Investment Corporation, and Nebras Power.
Several prominent Saudi players, including Acwa Power, Ajlan and Bros for Trading Company, Jomaih Energy and Water Company, Marafiq, and the Saudi Electricity Company, are also in the running.
The 7.2 GW power plants are expected to optimise Saudi Arabia’s energy mix for electricity production, aiming to reduce reliance on liquid fuels in favour of a balanced mix of renewable energy and gas, with each contributing 50%.
Meanwhile, the SPPC signed power purchase agreements in November with consortiums led by Al Jomaih Energy and Water and the Saudi Electricity Company for four conventional independent power plant (IPP) projects—Taiba-1, Taiba-2, Qassim-1, and Qassim-2.
The projects represent a total investment of SR29 billion ($7.8 billion) and mark a strategic step towards enhancing Saudi Arabia’s energy infrastructure.