Bids in for PP15 and Khafji consultancy package
12 April 2023
Bid evaluation is under way for the transaction advisory contract for Saudi Arabia’s next gas-fired independent power producer (IPP) projects.
The proposed PP15 power plant in Riyadh and another power plant in Al-Khafji will each have a design capacity of 3,600MW.
According to industry sources, teams led by UK-headquartered PWC and US/India-based Synergy Consulting are among those who submitted a proposal for the project’s transaction advisory role.
Both plants will be developed using a build-own-operate model.
MEED previously reported that the kingdom’s power offtaker, Saudi Power Procurement Company (SPPC), plans to procure two conventional power plants, in addition to the Taiba and Qassim IPP schemes currently under procurement.
Plans for PP15 were first announced in 2015. Originally intended to be developed on a build-operate-transfer basis, the initial plan entailed three phases, each with a design capacity of 1,800MW. That project has been inactive since 2017.
Taiba and Qassim IPPs
SPPC tendered the contracts for four gas-fired IPPs in January. Packaged initially as two individual IPPs, each with a capacity of 3,600MW, the two projects have been split into four smaller schemes, with each tranche having a capacity of 1,800MW.
The tendered schemes are:
- Taiba 1 and Taiba 2
- Qassim 1 and Qassim 2
SPPC expects to receive bids for the contracts to develop these projects by 20 June.
The Qassim, Taiba and PP15 projects are the first gas-fired power generation plants to be procured since 2016, when Saudi Arabia awarded the 1,500MW Fadhili IPP to a consortium led by France’s Engie.
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