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Taqa, Jera and Al Bawani consortium to build two power plants in Saudi: The Abu Dhabi National Energy Company (Taqa), alongside Jera, Japan’s biggest power producer and contracting company, and Al Bawani Capital, entered into two 25-year power purchase agreements with the Saudi Power Procurement Company to develop two new greenfield combined cycle gas turbine projects on a build, own and operate basis, according to a press release (pdf).
The details: The projects, known as Rumah 2 IPP and Al Nairyah 2 IPP, will each have a generation capacity of 1.8 GW, resulting in a combined capacity of 3.6 GW.
Ownership structure: Taqa will own 49% of the plant, while Jera owns 31%, and Al Bawani holds 20%. The operation and maintenance of the facilities will be managed by special purpose entities formed by the companies.
Remember: Earlier in the year, Taqa and Jera also reached financial close on an industrial steam and electricity cogeneration plant in Jubail.
OTHER ENERGY NEWS-
Adnoc offshore awards USD 500 mn contract to Abu Dhabi EPC project: Abu Dhabi National Oil Company Offshore awarded a USD 500 mn contract to Target Engineering Construction Company for the second phase of the expansion of Upper Zakum offshore field, Meed reports. The EPC project aims to increase oil production at Upper Zakum to 1.2 mn barrels per day.
The details: The second phase will involve engineering, procurement, and construction works on Asseifiya Island. Key components include an integrated gas lift compressor, a gas dehydration unit, a vapor recovery system, and a seawater filtration package. Adnoc Offshore completed the front-end engineering and design for this phase in-house.
What is Upper Zakum? Upper Zakum is the world’s second-largest offshore oilfield and consists of four artificial islands: Al Ghallan, Umm Al Anbar, Ettouk, and Asseifiya.
Background: The first phase of the project was launched in 2019, with the main USD 825 mn EPC contract going to UAE-based Target Engineering Construction Company.
