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February 26, 2021

Fichtner wins 7GW Saudi consultancy work

By MEED   

The gas-fired independent power projects are to be located in Taiba and Al-Qassim

Germany’s Fichtner has been appointed as the technical adviser for two planned gas-fired independent power producer (IPP) projects in Saudi Arabia.

The plants, which are to be located in Taiba and Al-Qassim, will have a power generation capacity of 3.5GW each.

MEED has reported that state offtaker Saudi Power Procurement Company is still evaluating bids for the financial advisory contract for the two schemes.

According to industry sources, the firms that submitted bids for the financial advisory contract in January are:

  • Ernst & Young (UK)
  • Sumitomo Mitsui Banking Corporation (Japan)
  • PricewaterHouseCoopers (UK)
  • Cranmore Partners (UK, UAE)

MEED understands the UK’s Cranmore submitted the lowest bid for the financial advisory role.

Saudi Arabia last awarded a gas-fired IPP contract, the 1.5GW Fadhili IPP, in 2016 to a consortium led by France’s Engie.

State utility Saudi Electricity Company (SEC) and state oil company Saudi Aramco jointly tendered the scheme, with SEC acting as the offtaker for electricity and Aramco the offtaker for steam and water produced by the cogeneration project.

This article is published by MEED, the world’s leading source of business intelligence about the Middle East. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here.

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