Saudi Electricity Co. (SEC) is in final negotiations with Spain’s Initec Energia, which bid for the solar component of the Duba integrated solar combined-cycle (ISCC) power plant, Middle East Economic Digest (MEED) reported, citing unnamed sources.
The plant will have a gas-fired combined cycle capacity of 485 megawatts (MW) - 550 MW and a solar output of 40-50 MW.
It’s understood that the contractor may pick up some of the initial financing costs associated with the project, the sources added.
Earlier this month, a MEED report revealed that SEC was considering dropping the solar component from the plant.
Duba, one of two major ISCC power generation projects in the kingdom, has a development cost of $660 million.
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