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Element List	Explanation
Introduction	Saudi Electricity Co. announces the signing of the Energy Conversion Agreement for purchase of energy produced from Rabigh 1 expansion power plant with the Saudi Power Procurement Company – Principal Buyer (“PB”) for large-Scale Combined Cycle Gas Turbine (“CCGT”) Power Plant with Readiness to Build Carbon Capture Unit. The Project is located in Western province of Saudi Arabia, with a production capacity of 1,179 MW. The ECA have been signed between Saudi Power Procurement Company, in its capacity as the Principal Buyer, and SEC on behalf of the project company. Saudi Electricity Co holds an effective shareholding of 100 % in the project.
Date of Announcement of the Award	2023-10-24 Corresponding to 1445-04-09
Project Subject Matter	Energy Conversion agreement for purchase of energy produced from Rabigh 1 expansion power plant
The Entity with Which the Project was Signed	Saudi Power Procurement Company – Principal Buyer (“PB”)
Date of Signing the Project	2026-01-21
Project Value	5.33 billion Saudi Riyals
Project Details	Development, Financing, Build, Own and Operate of a gas Combined Cycle Power Plant.
Project Duration	25 years from the plant commercial operation date.
Financial Impact and the Relevant Period	The financial impact of the operation is expected to be reflected from the Second quarter of 2027 onwards.
Related Parties	NA
Additional Information	NA

Saudi Electricity Co. Announces the signing of Energy Conversion agreement for purchase of energy produced from Rabigh 1 expansion power plant with the Saudi Power Procurement Company – Principal Buyer (“PB”)