Marubeni bid is lowest for power plant
A consortium led by Japan's Marubeni Corporation has proposed the lowest tariff to build a 2,000 megawatt power plant in Riyadh for Saudi Electricity Company (SEC).
The consortium, which also includes Kansai Electric and Saudi Masader Company for Power, Water and Gas, proposed a levelised electricity cost – which includes costs of production, fuel, financing and operations – of SR0.077 per kilowatt hour, Saudi Electricity said.
In a statement on its website Saudi Electricity said it would examine legal and technical aspects of all bids before signing a power purchase agreement (PPA) by the end of March.
"Bids are now under evaluation, within a month or a month and a half we will have a clear picture," Amr Al Swaha, head of independent power producer (IPP) projects, said.
Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.
Follow Emirates 24|7 on Google News.