Name and Location
Rabigh 2 independent power project (R2IPP), Saudi Arabia.

Client
Saudi Electricity Company (SEC).

Project Description
The greenfield 2 060 MW R2IPP will be developed on a build, own and operate basis, in Rabigh, on the western coast of Saudi Arabia, 130 km north of Jeddah, adjacent to the R1IPP and other existing SEC facilities.

The project will use natural gas as its main fuel and Arabian super light as its backup fuel, with the application of a combined-cycle power plant in a configuration of three groups, each comprising two gas turbines of enhanced efficiency, two heat recovery steam generators and one triple-pressure steam turbine, which will substantially reduce fuel consumption, the impact on seawater temperatures and carbon emissions into the environment.

R2IPP comprises three identical power blocks, each delivering a net output of 686.5 MW. The R2IPP plant will comply with all applicable environmental laws, guidelines, regulations and standards of the World Bank, the International Finance Corporation and the Saudi Presidency of Meteorology and Environment.

Value
$1.6-billion, with 74% of the total cost of the project being funded by senior debt and the balance being provided by the shareholders in the form of equity bridge loans.

Duration
The project is scheduled to come into operation in 2017.

Latest Developments
In November last year, a consortium led by ACWA Power International, including Samsung C&T, entered into a PPA with the SEC for the development, financing, construction, operation and maintenance of the R2IPP.

Key Contracts and Suppliers
ACWA Power International, including Samsung C&T (development, financing, construction, operation and maintenance of the plant); Siemens (gas turbine generator and steam turbine generator units) and Samsung C&T (engineering, procurement and construction contract).

On Budget and on Time?
Not stated.

Contact Details for Project Information
SEC, tel +966 11 461 9030, +966 11 461 9338 or email informus@se.com.sa.
ACWA Power International, tel +966 11 283 5555 or fax +966 11 283 5500.
Siemens, tel +49 69 797 6660.
Samsung C&T, tel +82 2 2145 2114.