Rabigh 2 IPP
Rabigh 2 IPP - a Independent Water & Power Project in Saudi Arabia. Capacity 2.1 GW. Winning consortium: ACWA Power + Samsung C&T (Al Mourjan). Status: Operational; +2,313.5 MW expansion PPA Apr 2026.
- Country
- Saudi Arabia
- Procurer
- SEC
- City / region
- Rabigh, Makkah
- Capacity
- 2.1 GW
- Status
- Operational; +2,313.5 MW expansion PPA Apr 2026
- Power tariff
- Not publicly disclosed
Winning consortium
ACWA Power + Samsung C&T (Al Mourjan) - equity: SEC 50% / ACWA-led 50%
Procurement timeline
- RFP: 2015
- Bid submission: 2015
- Preferred bidder: 2015
- Commercial close: Jun 2017
- Financial close: 2017
- PCOD: 2018
Financing
- Debt: USD 3 bn PPA value (expansion)
Technical scope
Process: CCGT 3x686.5 MW
Expansion 2,313.5 MW CCGT signed Apr 2026 - ACWA 40% equity
EPC contractor: Samsung C&T
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.