China Energy Engineering Corporation (CEEC) said on Monday it has signed a 6.98 billion Chinese yuan ($972 million) Engineering, Procurement and Construction (EPC) contract to build the 2,000 megawatts (MW) Haden solar PV Independent Power Plant (IPP) project in Saudi Arabia, the company disclosed in a Chinese-language stock exchange statement on Monday.

The Shanghai Stock Exchange-listed company said the solar power plant, located in Makkah province, is being developed by Buraiq Renewable Energy Company, the project's Special Purpose Vehicle (SPV) owned by Saudi's PIF, ACWA Power, and Saudi Aramco Power Company.

Construction is expected to take 31 months.

The EPC consortium comprises China Energy Engineering International Construction Group Co., China Energy Engineering Group Guangdong Thermal Power Engineering Co., and China Electric Power Engineering Consulting Group Northwest Electric Power Design Institute Co, according to the statement.

Last month, PIF-unit RELC inked deals with Chinese companies for local production of solar and wind energy components.

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

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