ACWA power signs agreement to buy electricity, financing Pacts for rabigh 2 project

Under the auspices of the Minister of Water and Electricity Eng. Abdullah bin Abdulrahman Al-Hossein, ACWA Power has held a festivity on the occasion of the completion of signing a Power Purchase Agreement for Rabigh 2 for independent power production as well as the financing agreements between Saudi Electricity Company (SEM) and “Al-Mourjan for Electricity Production Company, the "project company". Rabigh 2 project will produce 2,060 megawatts of electricity for the benefit of the Saudi Electricity Company in accordance with the purchase agreement entered into a period of up to 20 years starting from June 2017 AD.