Three companies signed 25-year deals to build two 1.8 gigawatt power plants in Saudi Arabia, boosting renewable energy.

TAQA, JERA, and Al Bawani Capital have signed 25-year power purchase agreements with Saudi Power Procurement Company to develop two new gas turbine power plants in Saudi Arabia, each with a capacity of 1.8 gigawatts. These projects aim to enhance Saudi Arabia's energy strategy, reducing reliance on oil for power generation and incorporating renewable sources and carbon capture technologies. The initiatives support Saudi Vision 2030 and the goal of achieving net-zero emissions by 2060.

November 19, 2024
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