Shikoku Electric Power Incorporated : Participation in the Riyadh PP11 Independent Power Project in Saudi Arabia
August 09, 2023 at 03:03 am EDT
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August 9th, 2023
Shikoku Electric Power Co., Inc.
Participation in the Riyadh PP11 Independent Power Project in Saudi Arabia
We, Shikoku Electric Power Co., Inc. ("Shikoku Electric"), are pleased to announce that we have participated in the Riyadh PP11 Independent Power Project ("the Project") in Saudi Arabia through acquiring some part of the interest from Sojitz Corporation who is one of the shareholders of the Project.
Since the commercial operation date in 2013, the Project has been generating power with a maximum capacity of 1,730MW in Riyadh, the capital of Saudi Arabia, where electric demand increases steadily with economic and social growth. The generating power is supplied to the state-owned Saudi Power Procurement Company under the long- term power purchase agreement ("PPA"). This is our first IPP project in Saudi Arabia.
We intend to contribute to the stable and efficient operation of the Project by leveraging the knowledge and expertise we have accumulated in the gas-fired power generation businesses within and outside Japan. Moreover, we aim for further business expansion in Saudi Arabia.
We continue to explore and develop new projects to expand our overseas business, which we are focusing for our future growth.
Project Overview
Project
Riyadh PP11 Independent Power Project
Location
Riyadh, Saudi Arabia
Output
1,730MW (Our net capacity: 220MW)
Shikoku Electric (12.75%)
Saudi Electricity Company (50%)
Investors
Engie (20%)
Aljomaih Holding Company (15%)
Sojitz (2.25%)
Technology
Gas-firedcombined-cycle power generation
Offtaker
Saudi Power Procurement Company
Fuel Supply
The offtaker supplies natural gas for free.
Term of PPA
March 2013 ~ April 2034 (21 years)
Location
Panoramic view of the plant
Project Site
Riyadh
Saudi Arabia
Attachments
Original Link
Original Document
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Disclaimer
Shikoku Electric Power Company Inc. published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2023 07:02:01 UTC.
Shikoku Electric Power Company, Incorporated is principally engaged in electricity generation and supply business. The Company operates in four segments. The Electricity division distributes electricity. The Information Communication division is involved in the provision of fiber to the home (FTTH) service, cable television broadcasting service, corporate communication service, information system service and cloud service, among otherrs. The Construction and Engineering segment conducts research, design and construction of electrical, mechanical, civil engineering and construction related works. The Energy segment sells and leases power-using equipment, supplies heat, stores and vaporizes liquefied natural gas (LNG), manages overseas businesses, as well as procures coal products.