Siemens to build two gas-fired power plants in Saudi Arabia [Yahoo! Finance]
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Source: Yahoo! Finance
The contract will last for 25 years, with Siemens also supplying power plant technologies that will provide almost 4GW to the country, said a statement released on Tuesday. The power plants, known as Taiba 2 and Qassim 2, will be built in the western and central regions of Saudi Arabia over the next few years. Siemens Energy's gas turbines will be installed, generating 2GW of electricity at each site, with each of the plants set to be connected to the grid in simple cycle mode in 2026 and permanently operated as combined cycle power plants one year later. In the statement, Siemens said the gas-fired power plants will help to replace some of Saudi Arabia's ageing power plant fleet, much of which relies on oil as an energy source. Siemens Energy, a German publicly traded energy corporation formed through the spin-off of the former Gas and Power division of Siemens, claims the new power plants will save up to 60% of CO2 compared with oil-fuelled power plants. Karim Amin, member
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