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FINANCIAL NEWS
Saudi SEC to establish fuel oil power plant at Rabigh
06 Mar 2012
(MENAFN) Saudi Electricity Co. (SEC) said that it plans to establish an independent power plant (IPP) running on fuel oil at Rabigh on the Kingdom’s West coast, reported Arab News.
The state-controlled utility added that it is looking for firms to construct and operate the 1,700 megawatt (MW) plant, adding that expressions of interest in running the factory should be submitted by March 21.
It also said that it would purchase electricity from the new firm under a Power Purchase Agreement (PPA).
It is worth noting that the Rabigh IPP2 plant would use fuel oil and is the fourth of five planned IPPs that would add a total of nearly 11,000 MW of power generation capacity.
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