Siemens Energy wins $1.5-billion deal in Saudi Arabia

RIYADH, June 25, 2024 – Siemens Energy has secured a USD 1.5-billion contract in Saudi Arabia for the maintenance of two gas-fired power plants, the company said on Tuesday.

The maintenance contract will last 25 years for the two combined-cycle power plants, which will be outfitted with Siemens technology and have a combined capacity of 4 GW.

The plants, Taiba 2 and Qassim 2, will see construction completed “in the next few years,” according to the German company.

China Energy International Group is serving as an EPC and contracting partner on the project.

Saudi Arabia targets net-zero carbon emissions by 2060 and is relying in part on replacing its ageing fleet of oil-fired power plants with modern, efficient gas-fired plants to reach this goal.

Taiba 2 and Qassim 2 will be among the world’s largest, most modern and most efficient combined-cycle plants, Siemens Energy said.

Read our latest insights on: