“Saudi Electricity” signs a power purchase contract for the “Samtah” station for 1.37 billion riyals
The Saudi Electricity Company signed, "Saudi Electricity"Yesterday, the power purchase agreement for the Samtah station project to produce solar photovoltaic energy with a production capacity of 600 MW, while the station is located in the southwestern region of Saudi Arabia.
The company said in a statement on its website "Saudi Arabia trading"The signing of the power purchase agreement between the Saudi Energy Purchase Company (the main buyer) and each of the companies that make up the consortium that won the project, which is the Saudi Electricity Company and the French Electricity Company International for Energy Solutions, on behalf of the project company.
The Saudi Electricity Company owns a 50.01% stake in the project, while the value of the contract is: 1.368 billion riyals.
The contract includes: development, financing, construction and ownership And operating the Samtah photovoltaic power station, while the contract period is 25 years from the date of commercial operation of the station.
The financial impact is expected to appear after the date of commercial operation of the project (PCOD), which is expected to be achieved during the first quarter of 2028 AD.
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