Orascom Construction and 50-50 joint venture partner Técnicas Reunidas have been awarded an EPC contract for the Qurayyah IPP Expansion Project in Saudi Arabia’s Eastern Province, Orascom announced on Monday.
The contract is valued at more than USD 2.6 billion and the companies have already received the limited notice to proceed with execution. The commissioning consortium is comprised of ACWA Power, Saudi Electricity Company and industrial services company Haji Abdullah Alireza & Co.
Qurayyah IPP is a gas-fired combined-cycle power plant with a generation capacity of 3.9 GW that has been partially operational since 2014, being developed in multiple phases under a build-own-operate scheme. Its primary offtaker is the Saudi Electricity Company under a 25-year power purchase agreement.
“We continue to deliver on our geographic diversification strategy with a particular focus on key sectors such as power and water. This project exemplifies the type of opportunities that we actively pursue where we can leverage our expertise to deliver high-quality projects and maximum value,” said Osama Bishai, CEO of Orascom Construction.
Qurayyah IPP is being developed along with a 380-kV electrical substation and will be equipped with carbon capture capabilities. It is slated to be the largest IPP gas-fired combined-cycle in the world when complete.
Source: theenergyyear.com