Wednesday, July 15, 2026

Al Jazeera - Economy:

Under the supervision of the Ministry of Energy, the Saudi Power Procurement Company (the Principal Buyer) announced the opening of qualification for competition on the third stage of conventional power plant projects, which operate using combined cycle technology. These projects are developed under the Build, Own, Operate (BOO) model, and the winning consortium of each project will own 100% of the project company established to develop and operate the Independent Power Producer (IPP) projects. Each project company will sign a Power Purchase Agreement with the Principal Buyer.

These projects aim to achieve Saudi Vision 2030 through sustainable growth of the energy sector in the medium and long term by applying the circular carbon economy approach, which employs various solutions and technologies to manage carbon emissions, including replacing liquid fuel with less carbon-intensive natural gas while ensuring readiness to build a carbon capture unit, and achieving the Kingdom's targets in reducing its emissions.

The Principal Buyer is the entity responsible for conducting preliminary studies, tendering, and awarding independent power projects and purchasing power from energy projects in the Kingdom of Saudi Arabia under the Principal Buyer license issued by the Saudi Electricity Regulatory Authority. For more information on conventional power projects, please visit the Saudi Power Procurement Company website: https://pb.com.sa/en/.

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