Fresh off another year of record electricity demand, Saudi Arabia is advancing its strategy of expanding and upgrading its power sector. The Saudi Electricity Company (SEC) this week awarded a $610mn contract to expand Riyadh’s 2.2GW PP12 power plant as part of its strategy to bring online 42GW of new thermal power capacity by the end of the decade.
As the largest producer of electricity in the kingdom, and operator of the national grid, SEC plays a key role in enabling Saudi Arabia’s ambitious economic growth agenda. “[Last year] we continued progressing our journey in capturing the rapid expansion opportunities ahead of us, as the kingdom is pursuing an energy transformation at scale and speed,” Khalid bin Salim al-Ghamdi, CEO of SEC, told his firm’s recent Q4 earnings call. (CONTINUED - 1042 WORDS)
