Our Investments

Rabigh Electricity Company

Rabigh Electricity Company (RABEC) is the owner of the first Independent Power Project ("IPP") in the Kingdom of Saudi Arabia.  With $ 2.5 billion of funding, the project is being developed as a new power plant with a net capacity of approximately 1204 MW at Reference Site Conditions ("RSC") and associated facilities located in Rabigh. The Project will provide the power to the Saudi Electricity Corporation (SEC) under a 20-year Power Purchase Agreement ("PPA").

The project comprises two blocks of heavy fuel oil fired boilers, steam turbines and generator sets each with a capacity of 602 MW. The plant will include flue gas desulphurization units, a fly ash disposal facility, fuel oil storage and supply facilities and special electrical facilities. The work is being conducted under an engineering, procurement and construction contract that includes a joint venture with two Chinese companies; the SEPCO III Electric Power Construction Corporation and Dongfang Electric Corporation. The power off-taker during the 20 year term is the Saudi Electricity Company.

The project company is owned by the Korea Electric Power Corporation, ACWA Power and the Saudi Electricity Company. Project activities for 2010 will focus on installing all primary structural foundations, the construction of the generator, boiler and auxiliary buildings and structures, and the manufacture of all major equipment.

Concession

BOO (20 years)

 

Location

Rabigh City, 120 km North of Jeddah

 

Shareholders

ACWA Power International

KEPCO

SEC

 

Off taker             

SEC

 

Cities Supplied

Western Region Grid

 

Project Cost ($ billions)

2.5

 

Owner's Engineer

B&V

 

EPC Contractor

Chinese Consortium (SEPCO III & Dong Fang)

 

O&M Contractor

ROMCO (Consortium of NOMAC  and KOWEPO)

 

Capacity

Power: 1,204 MW (Net)

 

Technology

Power:   Steam Turbine

 

Fuel

Heavy Fuel Oil

 

Commercial Operation

01st April 2010

  • 2009 Power Deal of the Year by PFI
  • Middle East Power Deal of the Year 2009 by Euromoney and Project Finance

Awards

We were recently awarded the PFI Award for our efforts in providing clean and sustainable energy.
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Investments

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