Aqua Power and Saudi Electricity signs an agreement to expand the village station with 13.4 billion riyals

Yesterday, the Saudi Electricity Company signed an agreement to purchase energy with the Saudi Energy Purchase Company, “The Chief Buyer” for the project of expanding the village station for independent electrical energy production system in the system of the complex cycle in the eastern region of the Kingdom Carbon.
According to the company’s statement on the circulation of Saudi Arabia, the ownership of the Saudi Electricity Company is 40% in the project.
She added that the value of the bouquet is 13.4 billion riyals, while the project period is 25 years from the date of the commercial operation of the entire station.
The project includes: 1- Developing, financing, building, possessing and operating a gas station to produce electrical energy in the complex cycle system.
2- Development, financing and construction, then transferring the ownership of a 380-volt transfer station.
She expected the financial impact to appear at the beginning of the commercial operation of the entire station, in the second quarter of 2028.
Aqua Power signed an agreement to purchase energy with the Saudi Energy Purchase Company for the project of expanding the village station for independent electrical energy production by the complex cycle system in the eastern region of the Kingdom of Saudi Arabia, with a production capacity of 3,010 MW with the readiness to build the carbon capture unit.
Aqua Power ownership is 40% in the project, while the contract value is 13.4 billion riyals, while the project duration is 25 years.
The project includes: 1- Development, financing, building, possessing and operating a gas station to produce electrical energy in the complex cycle system
2- Development, financing and construction, then transferring the ownership of a 380-volt transfer station.
She noted the clarification of the financial impact while completing the financial closure.