Saudi Electricity Co (SEC) said on March 3rd said that a consortium led by France's GDF Suez is the preferred bidder to build a $2 billion power plant of 2000 megawatt in Saudi Arabia.
Amer al Swaha, head of independent power producer (IPP) projects, SEC, said that the consortium (of GDF and al Jomaih Group) offered the best complied bid of 0.1079 riyal per kilowatt hour.
The other bidding consortiums were Britain's International Power with Saudi Oger and Korea Electric Power Corp; Mitsubishi Corp, Acwa Power and Tokyo Electric Power; Tenaga Nasional of Malaysia, Sumitomo Corp and Saudi Binladin Group; and Japan's Marubeni with Kansai Electric and Masader.
Amer al Swaha said that they are now in the project documentation phase to negotiate all agreements - including the power purchase agreement - and when they finish they will sign the contract. He also said that financial close would take place by the end of May.
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