Scatec ASA, Norway, has signed a 25-year USD-denominated PPA with Egypt Aluminium for a 1.1 GW Solar PV + 100 ..Read More

Scatec ASA, Norway, has signed a 25-year USD-denominated PPA with Egypt Aluminium for a 1.1 GW Solar PV + 100 MW/200 MWh BESS project in Egypt, backed by a sovereign guarantee. The USD 650 million project aims to help Egypt Aluminium decarbonize and meet EU’s CBAM requirements by 2026. Scatec plans to finalize land allocation, grid connection, and financing within 12 months, retaining 100% ownership initially but seeking additional equity partners. Scatec will also serve as the EPC provider, asset manager, and O&M service provider.
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• Power

Doosan Enerbility, South Korea, has signed a USD 610.7 million construction contract with Saudi Electricity Co ..Read More

Doosan Enerbility, South Korea, has signed a USD 610.7 million construction contract with Saudi Electricity Company (SEC) for the PP12 Combined Cycle Power Plant, located 150 km northwest of Riyadh. The 1,800 MW plant, part of Saudi Arabia's Vision 2030 to diversify its economy and boost power capacity by 6 GW annually, will utilize efficient gas combined cycle technology. Doosan, in partnership with SEPCO3, will handle design, equipment supply, and commissioning.
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• Power

Oman’s Ministry of Transport, Communications, and Information Technology signed three strategic agreements t ..Read More

Oman’s Ministry of Transport, Communications, and Information Technology signed three strategic agreements to enhance road, port, and maritime services. The agreements include a 30-km Izki-Nizwa dual carriageway project with Galfar Engineering, the development of a quarry transport port in Shaleem with Manji International Ports, and an investment framework with ILS Oman to boost ship supply and crew change activities at Port Sultan Qaboos, aligning with its role as a tourist destination.
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• Construction

GS Inima has signed a Power Purchase Agreement (PPA) for the 6.5 MWp Barka 5 Photovoltaic (PV) Plant in Oman, ..Read More

GS Inima has signed a Power Purchase Agreement (PPA) for the 6.5 MWp Barka 5 Photovoltaic (PV) Plant in Oman, aimed at integrating renewable energy into its desalination operations. Construction will begin soon, with the plant expected to be operational by Q1 2026, supplying 11% of the facility's electricity needs until June 30, 2044. This initiative highlights GS Inima’s commitment to reducing its carbon footprint and enhancing sustainability in water treatment.
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• Power
• PPP

SEPCO3 and Doosan Enerability, South Korea, signed the EPC contract with a consortium of ACWA Power, KEPCO, an ..Read More

SEPCO3 and Doosan Enerability, South Korea, signed the EPC contract with a consortium of ACWA Power, KEPCO, and SEC for the Rumah 1 and Nairyah 1 combined cycle power plants in Saudi Arabia. Rumah 1 (1,800 MW) is located 80 km east of Riyadh, and Nairyah 1 (1,800 MW) is 50 km north of Al Nairyah. These projects, part of Saudi Arabia's Vision 2030, aim to meet rising electricity demand, optimize the power grid, and support the country's sustainable development.
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• Power

Doosan Enerability, South Korea, signed a USD 1.54 billion contract with a consortium of ACWA Power, SEC, and ..Read More

Doosan Enerability, South Korea, signed a USD 1.54 billion contract with a consortium of ACWA Power, SEC, and KEPCO to construct the 1,800 MW gas-fired combined cycle power plants, Rumah 1 (80 km from Riyadh) and Nairyah 1 (470 km northeast of Riyadh), in Saudi Arabia. The project, awarded by SPPC, will be completed by 2028 in collaboration with SEPCO-3, with electricity sold to SPPC for 25 years.
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• Power

L&T’s Water & Effluent Treatment (WET) business, in partnership with Spain’s Lantania, secured a $500 mill ..Read More

L&T’s Water & Effluent Treatment (WET) business, in partnership with Spain’s Lantania, secured a $500 million contract from ACWA Power to build the Ras Mohaisen Desalination plant in Saudi Arabia with a capacity of 300,000 m³/day. The project includes four water tanks (600,000 m³ total), a 132/33kV substation, and a 30 MW solar PV plant. The plant will supply drinking water to Makkah Al-Mukarramah and Al-Baha regions, benefiting one million people. This is WET’s second recent desalination order in Saudi Arabia, enhancing its Middle East presence.
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• Water

Diriyah Company, Saudi Arabia, secured a USD 1.6 billion (SAR 6 billion) financing agreement from Banque Saudi ..Read More

Diriyah Company, Saudi Arabia, secured a USD 1.6 billion (SAR 6 billion) financing agreement from Banque Saudi Fransi (BSF) to fund the Wadi Safar masterplan, a 62 sq km ultra-luxury residential development featuring hotels, a golf course, and leisure facilities. This follows a USD 2.13 billion (SAR 8 billion) construction contract awarded in July 2024 for the Royal Equestrian & Polo Club and four luxury hotels. Diriyah, supported by PIF, aims to create 178,000 jobs, attract 50 million annual visitors, and contribute USD 18.6 billion to Saudi Arabia’s GDP.
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• Construction
• Finance