- February 20, 2025
ACWA Power, SEC, and Haji Abdullah Alireza & Co. signed a SAR 13.4 billion PPA with SPPC for the Qurayyah IPP ..Read More
ACWA Power, SEC, and Haji Abdullah Alireza & Co. signed a SAR 13.4 billion PPA with SPPC for the Qurayyah IPP Expansion Project, a 3,010 MW CCGT power plant in Saudi Arabia’s Eastern Province. The 25-year project, with 40% stakes each for ACWA and SEC, includes carbon capture readiness and aims to enhance power generation efficiency, support Vision 2030, and reduce reliance on liquid fuels.
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- February 20, 2025
ACWA Power signed a $693 million Share Purchase Agreement with ENGIE to acquire 4.61GW of gas-fired power and ..Read More
ACWA Power signed a $693 million Share Purchase Agreement with ENGIE to acquire 4.61GW of gas-fired power and 1.11 million m³/day of desalination assets in Kuwait and Bahrain. The deal includes stakes in Az Zour North (18%), Al Ezzel (45%), Al Dur (45%), and Al Hidd (30%), along with O&M companies. This acquisition aligns with ACWA Power’s goal of tripling assets to $250 billion by 2030, pending regulatory approvals. Goldman Sachs Saudi Arabia acted as the financial advisor.
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- February 19, 2025
ELSEWEDY ELECTRIC PSP has been awarded the Jawharat Al Aros 110/13.8 kV Substation project in Jeddah, Saudi Ar ..Read More
ELSEWEDY ELECTRIC PSP has been awarded the Jawharat Al Aros 110/13.8 kV Substation project in Jeddah, Saudi Arabia, featuring Siemens SF6-free Blue GIS technology, reducing environmental impact. This marks ELSEWEDY’s third substation project with National Grid SA, following Riyadh and Naqua substations. The company will handle design, procurement, construction, and commissioning, reinforcing Saudi Arabia’s energy infrastructure and supporting Vision 2030.
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- February 19, 2025
Al Yamamah Steel Industries Co. has secured a SAR 112.9 million contract to supply steel towers to National Po ..Read More
Al Yamamah Steel Industries Co. has secured a SAR 112.9 million contract to supply steel towers to National Power Construction Corporation Limited for a 380 kV ultra-high-voltage line project in Saudi Arabia’s western region. The contract duration is one year. Earlier, the company was awarded $82.4 million in contracts from L&T.
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- February 19, 2025
Parsons announced $475 million in new contracts as part of its Q4 2024 results. In Saudi Arabia, it secured tw ..Read More
Parsons announced $475 million in new contracts as part of its Q4 2024 results. In Saudi Arabia, it secured two contracts worth $275 million with a three-year duration, booking the first option period in Q4 2024. In UAE, it won a $200 million follow-on program and construction management contract in Dubai. Total Q4 revenue rose 16% to $1.7 billion, driven by 14% organic growth and acquisitions, with strong gains in critical infrastructure protection and cyber markets.
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- February 19, 2025
TrinaTracker, a subsidiary of Trinasolar, is establishing a 3GW solar tracker manufacturing facility in Jeddah ..Read More
TrinaTracker, a subsidiary of Trinasolar, is establishing a 3GW solar tracker manufacturing facility in Jeddah’s 3rd Industrial City, set to begin operations in Q1 2025. The factory, part of a land-lease agreement with MODON, supports Saudi Vision 2030 by boosting local renewable energy capabilities, creating jobs, and enhancing energy sustainability. The zero-emission facility will produce Vanguard solar trackers optimized for the region’s climate and improve delivery efficiency and service for MEA clients. This initiative strengthens TrinaTracker’s global footprint while advancing the region’s clean energy transition.
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- February 18, 2025
ACWA Power signed an SAR 8.6 billion PPA with EETC to develop, own, and operate a 2.0 GW wind power plant in H ..Read More
ACWA Power signed an SAR 8.6 billion PPA with EETC to develop, own, and operate a 2.0 GW wind power plant in Hurghada, Egypt, under a 25-year contract. The project includes financing, construction, and operation. Earlier, in January 2025, ACWA Power and HAU Energy achieved financial close for the 1.1 GW Suez Wind Farm in Egypt.
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- February 17, 2025
Hyundai Engineering & Construction (E&C), South Korea has secured $389 million in contracts from Saudi Electri ..Read More
Hyundai Engineering & Construction (E&C), South Korea has secured $389 million in contracts from Saudi Electricity Company (SEC) to build 380kV transmission lines in Madinah and Jeddah by November 2027. The 491 km lines will transmit solar power to substations in western Saudi Arabia. This follows a $725 million contract awarded in November 2024, reinforcing Hyundai E&C’s presence in the region.
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