📋 Tender Overview
Scope of Work:
To Build 1,800 MW Taiba IPP 2 Project.
Description:
This project is in alignment with kingdom’s Saudi Green Initiative, and its ambitious greenhouse gases (GHGs) net-zero target by 2060 as well as the energy sector’s objectives to ensure security of supply, diversity of market participation, fair competition, and transparency. This project will introduce the developer’s ability to implement CCS or other potential solutions to address GHGs emissions when deemed feasible allowing for greater participation of developers, EPCs, and Original Equipment Manufacturers (OEMs), and will drive further local content and value-added to the Kingdom.
Winning Consortium: Al Jomiah Energy and Water + EDF + Buhur for investment
The project have been financed through a combination of equity bridge financing and senior debt, secured by Riyad Bank, Saudi Awwal Bank, Abu Dhabi Commercial Bank, Banque Saudi Fransi, Arab Petroleum Investment Corporation (APICORP), Saudi Investment Bank, Bank Al Jazira, Commercial Bank of Dubai, and First Abu Dhabi Bank
Pre Qualified Bidders for Technical and Financial Member: Abu Dhabi National Energy Company PJSC (“TAQA”), Kahrabel FZE – Engie, EDF S.A., General Electric Company, International Company for Water and Power Projects (ACWA Power), JERA Co., Inc., Korea Electric Power Corporation, Marubeni Corporation, Nebras Power Q.P.S.C, The Kansai Electric Power Co Inc, Saudi Electricity Company, Power and Water Utility Company for Jubail and Yanbu (Marafiq), Samsung C&T Corporation, Sumitomo, NTPC Limited, China Power International Holding Ltd + Ajlan Brothers, Al Jomaih Energy & Water Co. (AEW) + EDRA Power Holdings Sdn Bhd, Sojitz Corporation
Pre Qualified Bidders for Financial Member: Alfanar Company, Gulf Investment Corporation G.S.C
Pre Qualified Bidders for Technical Member: Orascom Construction
Previous Events: November 2023- Al-Jomiah Energy and Water, EDF, Buhur for investment Consortium signed Power Purchase Agreement (PPA) for Taiba-2.
October 2023- Saudi Arabia Announces Winning Bidders for Taiba-2.
February 2023 - Saudi Arabia announces Pre-Qualified Bidders for Taiba IPP 2 Project.
January 2023- Saudi Power Procurement Company (SPPC) has issued requests for pro
Financing Sources:
2) Saudi Awwal Bank
P.O. Box 9084 Riyadh 11413, Kingdom of Saudi Arabia
Tel. +966 11 4050677
https://www.sab.com/
