Saudi Electricity Company (SEC) has issued a request for proposals for its first independent power project at Rabigh to 24 prequalified companies.
The deadline for bids is 31 August 2008. The successful bidder will take an 80 per cent stake in the project company that will build, own and operate the 1,200MW plant. SEC will hold the remaining 20 per cent.
The project company will sell the power it produces to SEC under a 20-year power purchase agreement.
The Rabigh plant will use heavy fuel oil as feedstock.
SEC is planning two more IPPs, one will be the Riyadh PP11 project and the second will be located at Qurayah (MEED 30:01:08).
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