Saudi Electricity Company (SEC) signed two power purchase agreements (PPAs) this week totalling 14.23 billion Saudi riyals ($3.8 billion) for a combined production capacity of 3,956 megawatts (MW).

The PPAs were signed with Saudi Power Procurement Co. (Principal Buyer), SEC said in two separate statements to the Saudi stock exchange.

On Tuesday, the utility, as part of a consortium with France-based EDF Power Solutions International, signed a 25-year PPA worth SAR 1.4 billion ($373.32 million) for the 600 MW Samtah solar photovoltaic (PV) plant in the southwest of the Kingdom.

SEC said it holds a 50.01 percent stake in the project.

On Monday, SEC signed 21-year PPAs worth worth a combined SAR 12.83 billion ($3.4 billion) for two combined-cycle gas-turbine (CCGT) power projects with a total capacity of 3,356 MW.

The two power plants - PP13 with production capacity of 1,678 MW, and PP14 with production capacity of 1,678 MW - are located in Riyadh.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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