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ACWA POWER Company announces the signing of power purchase agreements with the Saudi Power Procurement Company (SPPC).

2082
ACWA POWER
6.72 %
1445/04/30     14/11/2023 09:10:33

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Introduction ACWA POWER Company announces the signing of the Power Purchase Agreements “PPAs” with the Saudi Power Procurement Company – Principal Buyer (SPPC) for 2 large-scale Combined Cycle Gas Turbines (“CCGT”) Power Plants, namely Taiba 1 and Qassim 1 located in the Madina and Qassim regions of Saudi Arabia with a production capacity of 1,800 MW for each plant.
Date of Announcement of the Award 2023-10-24 Corresponding to 1445-04-09
Contract Subject Matter Power Purchase Agreement (PPA).
Date of Signing the Contract 2023-11-13 Corresponding to 1445-04-29
Contract Value SAR 14.6 billion (US$ 3.9 billion) in aggregate.
Contract Details Development, financing, construction, ownership and operation of 2 CCGT power plants
Contract Duration 25 years for each Agreement
Financial Impact and the Relevant Period The financial impact of the operation is expected to be reflected after H1,2027.
Related Parties NA

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price 269.8
Net Change 17.0 (+6.72%)
Value Traded (Sar) 148,213,894.6
Volume Traded 559,055
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