Five Saudi and International Consortia have offered bids for the construction, ownership and operation of the 11th power station in Riyadh, equally developed and financed by the Saudi Electricity Company(SEC) and the private sector. The project is estimated to involve an investment of SR 12 billion. Under a Power Purchase Agreement (PPA), the Company will purchase the project"s entire production of electricity for 20 years. It will start its partial operation in the summer of 2013. The SEC"s CEO Ali bin Saleh Al-Barrak said that the bids of the Consortia signifies the strength of the Saudi economy and the confidence of investors, financiers and developers in The Saudi Electricity Company and the future of the Saudi economy. Dr Al-Barrak hailed the Saudi leadership headed by the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz Al Saud for the support extended to the company to play its part in ensuring supplies of the reliable electric power. The project is an integrated project to generate electricity using natural gas to produce a 2000 Mega watt of electricity and will use the combined cycle gas turbine (CCGT) plant, a gas turbine generator generates electricity and the waste heat is used to make steam to generate additional electricity via a steam turbine which will increase fuel efficiency significantly.
