The Saudi Power Procurement Company (Principal Buyer), under the supervision of the Ministry of Energy, has extended the deadline for submitting Requests for Qualification (RFQ) for the third round of conventional Independent Power Producer (IPP) projects - based on Combined Cycle Gas Turbine (CCGT) technology in Saudi Arabia - to August 23, 2026.

The extension provides prospective developers and consortiums additional time to submit their qualification applications for the major gas-fired power generation programme, which is being developed to strengthen the Kingdom’s electricity generation capacity and support growing power demand, said SPPC in its statement.

The project scope includes the development, financing, engineering, procurement, construction, ownership, operation and maintenance of high-efficiency natural gas-fired CCGT power plants, it stated.

The plants will also be designed with readiness for future Carbon Capture (CC) units, allowing carbon capture technologies to be incorporated at a later stage. This approach supports Saudi Arabia’s Circular Carbon Economy framework and its long-term emissions reduction objectives.

According to SPPC, these projects will be developed under the Build-Own-Operate (BOO) model. The successful developer consortium for each project will hold 100% ownership of a dedicated Special Purpose Vehicle (SPV), which will be responsible for financing, developing, owning, operating and maintaining the power plant. Each SPV will subsequently enter into a long-term Power Purchase Agreement (PPA) with SPPC.