SEC eyes private investors for 5,400MW projects
RIYADH, October 3, 2016
Saudi Electricity Company (SEC), in a major move, is set to invite private investors to participate in creating an additional 5,400 megawatts (MW) of generating capacity across the kingdom, according to a report.
These power projects are likely to be executed in phases, said a Reuters report citing a SEC statement.
Saudi Arabia's economic reform plans, announced this year, focus on saving the government money by introducing public-private partnerships, in which private firms would provide much of the financing for projects and then operate them to earn profits, stated the report.