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- Kuwait Bourse closes higher
- Barwa Real Estate posts QR239.5m net profit for Q1
- QIC Group reports net profit of QR205m for Q1
- Gold prices fall
- China ramps up global yuan push, seizing on retreating dollar
- OPAZ, OQAE ink pact to drive energy efficiency in industrial zones
- Middle East Pizza Hut operator Americana Restaurants Q1-2025 revenues are healthy
- Dubai Airports off to a strong start in 2025, welcomes 23.4 million passengers in 3 months
- Saudi Arabia's shoppers are picking more gold jewellery - whatever the price
- Nakilat reports $118.9m Q1 net profit, up 3.2%
31/12/2014 16:51 AST
State-owned utility Saudi Electricity Company (SEC), has signed a contract worth SR1 billion ($267 million) to buy generators for the kingdom's first fossil fuel-fired power plant that will also produce solar energy.
The 550-megawatt integrated solar combined cycle (ISCC) plant will primarily burn natural gas, but will generate 50 MW of solar energy to increase fuel efficiency at the planned facility near Tabuk on the Red Sea coast.
SEC did not name the company which will supply generating units to the plant, but an industry source familiar with the matter said the company was General Electric.
ISCC plants reduce emissions of climate-warming carbon by increasing the amount of steam available for driving power generation turbines, without having to burn more gas or oil.
SEC said the project, expected to cost a total of SR2.5 billion ($666 million), would be fully operational before the end of 2017.
The company's chief executive Ziyad al-Shiha was also quoted as saying in the statement that a new high voltage direct current facility in Tabuk, expected to cost SR4.5 billion ($1.1 billion), would be commissioned in 2018 to boost electricity transmission in the country's western region and later to Egypt.
Reuters
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
09/04/2025
GE Vernova and Saudi Electricity Company (SEC) have announced the successful completion of the first gas turbine outage entirely planned and executed by GE Vernova's Saudi engineers and specialists.
Trade Arabia
02/03/2018
The Saudi Electricity Company (SEC) said that 68 per cent of its purchases, during the past four years, came from 52 local factories, with a growth rate of 720 per cent compared to 2001.
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Trade Arabia
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30/04/2025
Barwa Real Estate discloses its financial statements for the three month period ended March 31, 2025.
The results showed a net profit of QR239.5m attributable to the shareholders of the pare
The Peninsula
30/04/2025
Qatar Insurance Group, the leading insurer in Qatar and the MENA region, has announced a robust net profit of QR205m for the first quarter of 2025, up from QR194m in Q1 2024. The results were approve
The Peninsula
30/04/2025
Americana Restaurants has turned around its fortunes with revenues up 16.2% in Q1-2025, to total $573.4 million, and with net profit a healthy 16.5% higher to $32.6 million. This reverses a string of
Gulfnews
30/04/2025
Qatar Gas Transport Company (Nakilat) achieved a net profit of QAR433 million ($118.92 million) for the first quarter of 2025, ended March 31, marking a 3.2% increase from QAR420 million recorded in
Trade Arabia
30/04/2025
Aldar Properties has reported a 33% year-on-year increase in profit before tax to AED2.2 billion ($599 million) for the first quarter of 2025, with net profit after tax rising by 22% year-on-year to
Trade Arabia
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