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Element List	Explanation
Introduction	Saudi Energy Co. Announces the signing of the Power Purchase Agreement “PPA” with the Saudi Power Procurement Company – Principal Buyer (“SPPC”) for large-Scale Combined Cycle Gas Turbine (“CCGT”) Power Plant, namely Rabigh 2 IPP Expansion Project. The Project is located in Makkah province of Saudi Arabia, with a production capacity of 2313.5 MW with readiness to build Carbon Capture Unit. Saudi Energy Co holds an effective shareholding of 40 % in the project.
Date of Announcement of the Award	2026-04-16 Corresponding to 1447-10-28
Contract Subject Matter	Power Purchase Agreement (“PPA”)
The Entity with Which the Contract was Signed	Saudi Power Procurement Company – Principal Buyer (“SPPC”)
Date of Signing the Contract	2026-04-16 Corresponding to 1447-10-28
Contract Value	11.5 billion Saudi Riyal
Contract Details	1. Development, Financing, Building, Owning and Operating a natural gas- CCGT power plant 2. Development, Financing, and Building, an extension to a 380kV electrical substation.
Contract Duration	31 years from the plant commercial operation date.
Financial Impact and the Relevant Period	The financial impact will be announced once the Project achieves the financial close.
Related Parties	ACWA Power
Additional Information	NA

Saudi Energy Co. Announces Signing the Power Purchase Agreement for Rabigh2 IPP Expansion Project with the Saudi Power Procurement Company – Principal Buyer (“SPPC”)