Saudi Electricity Company (SEC) has signed power purchase agreements worth SAR12.8 billion ($3.4 billion) for two large scale CCGT (Combined Cycle Gas Turbine) power plants located in Riyadh city with a combined production capacity of 3,356 MW.

Wholly-owned by SEC, these power plants are PP13 with production capacity of 1,678 MW and PP14 with production capacity of 1,678 MW. 

The agreement, which includes ownership and operation of these CCGT power plants for a 21-year period, was inked with Saudi Power Procurement Company – Principal Buyer, said SEC in a statement.

The financial impact is expected over the lifetime of both agreements starting from 2025, it added.-TradeArabia News Service