Saudi Aramco signs power purchase agreement with Saudi Electricity Procurement Company.

Saudi energy company announced that it has signed a power purchase agreement with its major buyer, Saudi Electricity Procurement Company, for the expansion of a large combined cycle gas turbine power plant - the Rabigh 2 Independent Power Plant Expansion Project - with a contract value of 11.5 billion Saudi Riyals. The project is located in Mecca Province, Saudi Arabia, with a power generation capacity of 2313.5 megawatts. Saudi energy company holds a 40% effective equity interest in the project.