Energy

Saudi Industrial Property Authority (Modon) announced that it has signed two contracts worth US$350mn with the Saudi Electricity Company (SEC) for the delivery of electricity to the 3rd Industrial City in Jeddah and the 3rd Industrial City in Dammam.

Masdar succeeded in getting US$615mn in financing from banks for the worlds biggest concentrated solar power plant (CSP).

Alstom Grid has been awarded two contracts worth a total of US$83.1mn by the Saudi Electricity Company (SEC) for five substation extensions and two new substations.

Iraq has awarded a US$125mn contract to a Saudi Arabian company to build a power plant with a total capacity of 150 MW in the southern city of Basra.