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| Background |
Saudi Electricity CompanySaudi Electricity Company (SECSEC) plans to build the PP10 power plant, 80 km west of Riyadh.
The facility will have capacity of 2,000 MW of power generation. SECSEC originally planned to build the plant with 1,750 MW capacity but raised it to 2,000 MW.
The project will increase the power capacity of the Central Operating Area by 20%.
GEGE Energy will supply the gas turbines. |
| Latest Events |
In September 2011, the project was completed. |
| Previous Events |
In February 2011, the construction of the plant was in progress.
At the end of June 2010, the first 1,000 MW were completed. The first units were previously expected to come on stream in mid February 2010 however it was not feasible due to delays in the substation, constructed by Saudi Services for Electro Mechanic Works CompanySaudi Services for Electro Mechanic Works Company (SSEM).
In February 2009, the gas turbines supply contract (worth USD 1 billion) was awarded to GEGE.
In August 2008, the EPC contract was signed with Arabian Bemco Contracting CompanyArabian Bemco Contracting Company.
On 30 June 2008, the EPC contract was awarded to Arabian Bemco Contracting CompanyArabian Bemco Contracting Company.
In August 2007, bidders submitted their proposals for the EPC contract.
In February 2007, the ITB for the EPC contract was issued.
In September 2006, the JV of Saudi Consulting ServicesSaudi Consulting Services (SaudConsult) and National Engineering Services of Pakistan (Nespak) signed the consultancy contract for project management services. |
| Scope of Work |
Construction of a 2000 MW combined cycle power plant including 36 Frame 7EA GEGE PG7121EA packaged gas turbines. |
| Financing Source |
On 4 August 2008, Arabian Bemco Contracting CompanyArabian Bemco Contracting Company signed an agreement worth USD 2.2 bn with a group of 6 local banks: Banque Saudi FransiSaudi Fransi, SAMBA Financial Group, National Commercial BankNational Commercial Bank, Arab National BankArab National Bank, Riyadh Bank and Saudi Hollandi BankSaudi Hollandi Bank.
Only Saudi Arabian institutions were invited to compete for the financing of the project. Bank Saudi FransiSaudi Fransi and SambaSamba will act as facilities agents and book-runners.
Out of the USD 3 billion price tag of this project, the debt component will consist of approximately USD 2.13 billion that will be provided by local banks on a club basis. |
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