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- GCC Corporates Sector outlook 'neutral' due to strong fundamentals: Fitch
- Saudi Arabia issues 201 new mining licences in December
- Energy Development Oman issues USD 10-year sukuk worth $650m
- UAE consumers to enjoy stable borrowing costs as Fed holds rates
- Saudi Arabia mulls expansion of premium residency scheme: Reuters
- Kuwait mulls $7bn pipeline stake sale, says report
- National Investments Company Wins Digital Innovation Award - Kuwait 2025
- Gulf Bank launches new corporate banking mobile application to support businesses
- KFH achieves KD 632.1 million in net profit for 2025, an increase of 5.0%
- Boubyan Bank announces solid net profits of KD 100.5 million for 2025
28/10/2025 04:24 AST
Saudi Electricity Company (SEC) has signed power purchase agreements worth SAR12.8 billion ($3.4 billion) for two large scale CCGT (Combined Cycle Gas Turbine) power plants located in Riyadh city with a combined production capacity of 3,356 MW.
Wholly-owned by SEC, these power plants are PP13 with production capacity of 1,678 MW and PP14 with production capacity of 1,678 MW.
The agreement, which includes ownership and operation of these CCGT power plants for a 21-year period, was inked with Saudi Power Procurement Company - Principal Buyer, said SEC in a statement.
The financial impact is expected over the lifetime of both agreements starting from 2025, it added.
Trade Arabia
23/01/2026
Saudi Electricity Company (SEC) has announced the signing of an Energy Conversion Agreement (ECA) with the Saudi Power Procurement Company (Principal Buyer) for the purchase of energy produced from t
Trade Arabia
14/12/2025
Saudi Electricity Company (SEC) has signed a landmark financing agreement with the Italian Export Credit Agency (SACE), with a total value of up to $1 billion, aimed at supporting the development and
Trade Arabia
08/12/2025
Saudi Electricity Company (SEC) has announced that it has signed a tri-party agreement with French bank Bpifrance and GE Vernova, a purpose-built energy technology company, to facilitate financing fo
Trade Arabia
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28/01/2026
In a new achievement underscoring its institutional leadership and ability to adapt to the rapid transformations shaping today's business environment, National Investments Company announced that it h
Kuwait Times
28/01/2026
Gulf Bank announced the launch of its new application dedicated to SME & corporate enterprise banking, designed to meet the evolving needs of businesses across various sectors. The launch reflects th
Kuwait Times
28/01/2026
Chairman of Kuwait Finance House (KFH) Hamad Abdulmohsen Al-Marzouq said that, by the grace of Allah, KFH has reported net profit of KD 632.1 million attributable to the shareholders of the bank for
Kuwait Times
28/01/2026
Boubyan Bank announced its financial results for the year ended December 31, 2025, with its net profits growing by 4 percent compared with 2024 to reach KD 100.5 million. Profit Before Tax (PBT) grew
Kuwait Times
28/01/2026
National Bank of Kuwait (NBK) has announced its financial results for the financial year ended December 31, 2025. The bank reported a net profit of KD 575.6 million ($1.9 billion), compared to KD 600
Kuwait Times
Financial Information Co.
Saudi Arabia