SPPC awards 7.2GW contracts to consortiums [Yahoo! Finance]
Korea Electric Power Corporation (KEP)
US:NYSE Investor Relations:
home.kepco.co.kr/kepco/en/ntcob/list.do?boardcd=brd_000242&menucd=en03040201
Company Research
Source: Yahoo! Finance
The projects are integral to the country's strategic energy mix plan, which aligns with the Saudi Vision 2030 goals that include localisation of gas turbine manufacturing and readiness for carbon capture technologies. SPPC is tasked with the tendering and awarding of independent power projects, and the contracts were awarded for the Rumah I and II and Al Nairyah I and II projects. The energy mix plan, supervised by Saudi Arabia's Ministry of Energy, aims for renewable energy and gas to contribute 50% each towards domestic electricity production. Awarding of the contracts is said to be in line with the Saudi Green Initiative, which targets net-zero greenhouse gas emissions by 2060 through a circular carbon economy approach. A consortium comprising Saudi Electricity Company, ACWA Power, and Korea Electric Power Corporation (KEPCO) has been awarded the contracts for the Rumah I and Nairyah I power plants, each with a 1.8GW capacity. In this consortium, Saudi Electricity Compan
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KEP
Sec Filings
- 11/21/24 - Form 6-K
- 11/21/24 - Form 6-K/A
- 11/20/24 - Form 6-K
- KEP's page on the SEC website