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- Saudi Aramco's Jafurah Gas Plant Begins Output with 450 Million Cubic Feet Per Day
- Bahrain Marina seals partnership deal with Batelco by Beyon
- Investcorp Capital acquires $400m industrial assets across US
- The British Embassy honors Gulf Bank for empowering people with disabilities
- Saudi flour company MC4 starts work on new production facility
- Alba celebrates major contributions of its female workforce
- H&H unveils new ultra-luxury destination in Jumeirah
- Top architect Frida Escobedo lands contract to design Qatar ministry HQ
- QSE edges lower on selling pressure in banks, consumer goods & insurance; M-cap adds QR2.13bn
- US, UAE Central Banks on track for final interest rate cut of 2025 next week
19/11/2014 06:32 AST
Saudi Electricity Co, the Gulf's largest utility, has approached France's EDF about taking a minority stake in the French firm's Hinkley Point C nuclear project in Britain, industry sources said.
EDF is still searching for additional investors to help fund the 16 billion pound ($25.06 billion) nuclear project after it received European Commission state aid clearance last month for the support of the British government to guarantee future returns.
EDF, which will own 45-50 percent of the project, has already brought China General Nuclear Corporation (CGN) and China National Nuclear Corporation (CNNC) on board who will share 30-40 percent of the project's equity.
French nuclear reactor maker Areva will also own a 10 percent stake, leaving up to 15 percent for another investor.
Saudi Electricity has expressed interest in the power station, industry sources close to the matter said.
"There's much more interest post state aid decision," one of the sources said.
Saudi Electricity and EDF declined to comment.
The British government is guaranteeing EDF a minimum electricity price of 92.50 pounds per megawatt-hour generated from the new plant for 35 years as part of a policy to encourage low-carbon energy production.
EDF is expected to make a final investment decision for Hinkley Point C around the end of the year.
Arab News
28/10/2025
Saudi Electricity Company (SEC) has signed power purchase agreements worth SAR12.8 billion ($3.4 billion) for two large scale CCGT (Combined Cycle Gas Turbine) power plants located in Riyadh city wit
Trade Arabia
11/08/2025
Saudi Electricity Company (SEC) continued to deliver robust financial and operational performance in the second quarter and first half of 2025, said an SEC press release issued on Sunday.
Re
Asharq Al Awsat
13/04/2025
Saudi Electricity Company (SEC) has announced that it has received bids from leading utility majors for the construction of two 380kV substations at Afif city in central Saudi Arabia in the Najd regi
Trade Arabia
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05/12/2025
The first phase of oil giant Aramco's Jafurah gas plant is complete and production has begun with a capacity of 450 million cubic feet per day, the Saudi finance ministry said on Tuesday.
Th
Asharq Al Awsat
05/12/2025
Bahrain Marina Development Company (BMDC), the master developer of the Bahrain Marina project on the eastern waterfront of Manama, has announced the signing of a strategic partnership agreement with
Trade Arabia
05/12/2025
Investcorp Capital (ICAP), a company listed on the Abu Dhabi Securities Exchange, today (December 4)announced that it has successfully acquired a diversified portfolio of industrial assets for $400 m
Trade Arabia
05/12/2025
In recognition of its sustained commitment to promoting inclusivity and fostering a workplace environment that embraces all segments of society, Gulf Bank received a special invitation from the Briti
Kuwait Times
05/12/2025
Leading Saudi flour production company Fourth Milling Company (MC4) has broken ground on its new production facility at Al Kharj region of the kingdom. This comes as part of its SAR265 million ($71 m
Trade Arabia
Financial Information Co.
Saudi Arabia