Qurayyah IPP (Hajr Electricity)
Qurayyah IPP (Hajr Electricity) - a Independent Water & Power Project in Saudi Arabia. Capacity 3.9 GW. Winning consortium: ACWA Power + Samsung C&T + MENA Infra Fund. Status: Operational.
- Country
- Saudi Arabia
- Procurer
- SEC
- City / region
- Qurayyah, Eastern Province
- Capacity
- 3.9 GW
- Status
- Operational
- Power tariff
- Not publicly disclosed
Winning consortium
ACWA Power + Samsung C&T + MENA Infra Fund - equity: SEC 50% / ACWA+Samsung+MENA 50%
Procurement timeline
- RFP: 2011
- Bid submission: 2011
- Preferred bidder: 2011
- Commercial close: Apr 2012
- Financial close: 26 Apr 2012
- PCOD: Mar 2015
Financing
- Capex: USD 2.72 bn
- Debt: USD 2.1 bn
- Lenders: Int'l + Saudi (USD + Islamic)
- Tenor: 23 yr
- Margin: 180-225 bps (USD); 145-200 bps (Islamic)
Technical scope
Process: CCGT 9F
Largest IPP in Saudi at award; >USD 160M/yr fuel savings
Notes
Winning bid 15.5% below nearest.
EPC contractor: Hyundai + Samsung
Sources
Open the full IWPP / IPP benchmark →Part of the GulfInfra · GCC Infrastructure Library - a free open-source benchmark of 136 public-private partnership procurements across the GCC. Methodology: how we build this.