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Korea Electric Power Reportedly Wins Saudi Aramco Jafurah Phase 2 Power Plant Contract

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Korea Electric Power has reportedly secured a contract to develop the second phase of Saudi Aramco's Jafurah combined cycle power plant, with a capacity of 331 megawatts, according to multiple media outlets on Thursday.

This followed Kepco's previous contract to develop the first phase of the facility, with a capacity of 317 MW. The plant is targeted for completion this month, according to the reports.

Meanwhile, the second phase of the project is reportedly planned for completion in June 2029.

The facility will supply power and steam to Aramco for 17 years under a purchase agreement between the two companies, according to reports. Revenue of around 2.1 trillion South Korean won ($1.37 billion) is expected from the deal.

The plant is designed to produce 465 tons of steam per hour.

Kepco has tapped Doosan Enerbility for the engineering, procurement, and construction of the plant under a contract valued at 840 billion won, Zawya reported.

A special purpose company jointly established by the utility and Aramco will handle operations, while the Export-Import Bank of Korea will provide financing support.

Kepco and Aramco did not immediately respond to' requests for comment.

Kepco intends to enter into additional agreements with Aramco for other co-generation projects to be tendered later this year, The Korea Times reported.

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