https://arab.news/4w3wb
RIYADH: Financial closure has been secured for an upcoming industrial steam and electricity cogeneration plant in Jubail, with Najim Cogeneration Co. finalizing the funding for development.
The facility, a collaboration between Abu Dhabi National Energy Co., known as TAQA, and Japan’s JERA Co. Inc., will supply electricity and steam to a major petrochemical complex in Saudi Arabia’s Eastern Province.
The plant, which will operate under a 25-year build, own, and operate model with a potential five-year extension, is 51 percent owned by TAQA and 49 percent by JERA.
The cogeneration plant is set to deliver up to 475 megawatts of power and approximately 452 tonnes per hour of steam using advanced combined cycle gas-fired technology.
Farid Al-Awlaqi, CEO of TAQA’s generation business, said: “This is our third-generation project in the Kingdom of Saudi Arabia and we will be developing an advanced cogeneration steam and power plant using the latest highly efficient J-Class gas turbine technology in partnership with JERA.”
He said that TAQA is pleased to manage both the development and operations of the plant, which incorporates J-Class gas turbine technology and will optimize energy efficiency while reducing environmental impact.
The facility will feature advanced power and steam systems, gas and water receiving systems, and gas-insulated switchgear, all in compliance with stringent Saudi Energy Efficiency Center standards.
“Achieving financial close for the SATORP Strategic Expansion Cogeneration plant marks a significant success for TAQA, JERA and SATORP,” said Steven Winn, chief global strategist at JERA.
“This project aligns perfectly with our strategy to provide efficient, sustainable, and technologically advanced energy systems, contributing to the Kingdom’s and to our customer’s vision for a sustainable and optimized energy supply,” he added.
Future plans for the facility include the potential installation of a carbon capture plant, as well as provisions for hydrogen cofiring. The SATORP Strategic Expansion complex is also expected to house one of the largest mixed-load steam crackers in the Gulf Cooperation Council region.
In March a power and steam purchase agreement was signed with Saudi Aramco Total Refining and Petrochemical Co., a joint venture between Saudi Aramco and TotalEnergies.
Previously, it was announced that the new greenfield cogeneration plant in Jubail will supply electricity and steam to the Amiral petrochemical complex.