Dec 03 2011 |
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Qurayyah IPP Commences Construction
The largest IPP in the world with a capacity of 3927MW
Eng. Yousef AlOuhali, The Executive Managing Officer of the HAJR stated, from the company office in AlKhobar, on Thursday: "Qurayyah IPP is a Greenfield Independent Power Project with a net generation capacity of 3927 MW. The design production capacity will make it the largest IPP combine cycle gas-fired power plant in the world once completed".
The project is being funded with USD 730 million of equity capital funded through an equity bridge murabaha facility provided by Arab National Bank , Banque Saudi Fransi , The National Commercial Bank, Samba Capital, Saudi British Bank, and Saudi Hollandi Bank and 2,075 million of debt funded by Arab National Bank , Banque Saudi Fransi , Hong-Kong Shanghai Bank, Korea Export Import Bank, Kreditanstalt Fur Wideraufbau, The National Commercial Bank, Samba Capital, Saudi British Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and US Export Import Bank.
The project will deliver 3927 MW of electricity to SEC under a 20 year Power Purchase Agreement (PPA) commencing on 30 June 2014. Siemens will provide all major equipment and electrical systems and Samsung C&T will Engineer, Procure and Construct the project as the EPC contractor to deliver the project. Once completed, the plant will be operated by The First National Operation & Maintenance Company (NOMAC) a subsidiary of ACWA Power under a long-term Operation & Maintenance contract with Siemens providing parts and services for the gas turbines under a Long-Term Service Agreement (LTSA) with NOMAC.
-Ends-
For more information please contact:
Hani N. Alsaigh
Corporate Communication Director
PO Box 22616, Riyadh 11416, KSA
Tel: +966 1 473 4400
Mob: +966555231490
halsaigh@acwapower.com
www.acwapower.com
© Press Release 2011
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Comments By Our Users (1)
hope this project will success.
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