GE Wins $1 Billion Contract to Build Saudi Power Plant

 GE Wins $1 Billion Contract to Build Saudi Power Plant

GE (NYSE: GE) has won a nearly $1 billion contract to design and build a new power plant for Saudi Electricity Company (SEC) in north Saudi Arabia.

The 1,390-MW Waad Al Shamal combined-cycle plant will support the development of a $7.5 billion phosphate mining complex.  The plant is expected to produce enough electricity to power the equivalent of more than 500,000 Saudi homes.

“We continue to strengthen the Kingdom’s power infrastructure to meet the growing demand for electricity and to accelerate all-round growth,” said Ziyad Al Shiha, CEO of Saudi Electricity Company.  “Waad Al Shamal is a strategically-located power plant that has tremendous potential to energize the local economy and create jobs for Saudis through its support to the industrial sector.  By awarding the contract to GE, we are further building on the long-term partnership we have with GE, with a focus on advanced technologies.”

GE’s 48-month contract includes the delivery of four GE 7F.05 gas turbines, most of which are being manufactured at GE’s Greenville, South Carolina plant, though one turbine is being assembled at the company’s new technology center in Saudi Arabia’s Eastern Province.

GE will also provide a steam turbine, which is being produced at the company’s Schenectady, New York manufacturing plant.

“GE has been a long-term and trusted partner of SEC and we are committed to delivering our cutting edge competencies across the power sector of the Kingdom – from turnkey project development to accelerating power plant productivity and efficiency through our digital industrial solutions,” said Mohammed Mohaisen, president and CEO of GE gas power systems Middle East and North Africa.  “Waad Al Shamal brings significant value to the Kingdom by strengthening the northern grid and through its potential to energize the local industrial sector.”

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