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Element List	Explanation
Introduction	Acwa announces the signing of a PPA with SPPC for a large-scale Combined Cycle Gas Turbine (“CCGT”) Power Plant, namely Rabigh 2 IPP Expansion Project. The Project is located in the Makkah province of Saudi Arabia, with a power generation capacity of 2,313.5 MW with Readiness to Build Carbon Capture Units. ACWA Power 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”)
Date of Signing the Contract	2026-04-16 Corresponding to 1447-10-28
Contract Value	SAR 11.5 billion
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’s expected project commercial operation date.
Financial Impact and the Relevant Period	financial impact of the operation will be announced once the Project achieves its financial close
Related Parties	Saudi Energy

ACWA Power Company announces the signing of a Power Purchase Agreement (“PPA”) with the Saudi Power Procurement Company (“SPPC”) (“Principal Buyer”) for Rabigh 2 IPP Expansion Project