Egypt’s Elsewedy Electric, China’s Sinohydro sign $2.2bn Saudi power plant contract
- A consortium of Egypt's Elsewedy Electric and China's Sinohydro has signed a $2.2 billion contract to expand Saudi Arabia's Rabigh 2 independent power plant.
- The expansion will increase capacity by 2.3 gigawatts, with commercial operations expected to start in May 2029.
- The contract includes the engineering, procurement, and construction of a natural gas-fired plant utilizing combined-cycle technology.
- Overall project progress has exceeded 39%, with on-site work already initiated.
- The Rabigh 2 expansion will contribute to meeting Saudi Arabia's growing energy demands across various sectors.
- Saudi Arabia aims to generate 50% of its electricity from renewable sources by 2030, transitioning towards a more sustainable energy mix.
