Our investment partners
SAPCO supports Saudi Arabia’s economic growth and diversification, including through investment in sustainable and renewable energy solutions. Our 30% stake in the SAR 3.4 billion / $900M, 1,500 MW Sudair Solar photovoltaic plant – the first investment as part of the PIF and ACWA Power renewable energy consortium demonstrates our commitment. The project, which is located at Sudair Industrial City, is set to become one of the largest single-contracted Solar PV plants in the world and the largest of its kind in Saudi Arabia. The plant is set to be capable of powering some 185,000 homes, while offsetting nearly 2.9 million tons of emissions per year.
Saudi Electric Company
The Saudi Aramco Power Company (SAPCO) has owned 6.93% of the total outstanding shareholding of the Saudi Electric Company (SEC) since its initial IPO in 2000. The Saudi Electricity Company (SEC) is the largest publicly listed utility company in the Middle East. SEC or its subsidiaries own and operate the full value chain of electricity business lines comprising generation (53GW of capacity), transmission, and the distribution network, and provides first-class quality services to more than 10 million customers in the Kingdom.
The Saudi Aramco Power Company (SAPCO) owns 24.81% of the total shareholding in Marafiq along with the other three equal shareholders consisting of the Royal Commission for Jubail and Yanbu’ (RCJY) 24.81%, Saudi Basic Industries Corporation (SABIC) 24.81%, and the Public Investment Fund (PIF) 24.81%. The remaining shares equivalent to less than 1% of the total is owned by seven private investors.
Marafiq is a power and water utility company that was established in 2000 as a joint-stock company with $670 million of equity under the Royal Commission for Jubail and Yanbu’ and started commercial operations in 2003. Marafiq has successfully carried out its charter, by undertaking the operation, maintenance, management, expansion, and construction of seawater cooling systems, desalinated and treated water systems, sanitary and industrial wastewater systems and electric power systems to provide essential utility services to industrial, commercial, and residential customers in the industrial cities of Jubail and Yanbu’.
Fadhili Plant Cogeneration Company (FPCC)
Located in the Eastern region of the Kingdom of Saudi Arabia the Fadhili Plant Cogeneration Company (FPCC) provides an aggregate capacity of 1,519 MW of electricity and 1,447 t/h of steam, through the efficient cogeneration of steam and electricity. FPCC is a Special Purpose Vehicle consisting of the Saudi Aramco Power Company (SAPCO), Saudi Electricity Company (SEC), and Engie Energy International (EEI).
Power Cogeneration Plant Company (PCPC)
Power Cogeneration Plant Company (PCPC) ensures the safe, reliable, and cost-efficient delivery of electric power and steam to Saudi Aramco utilizing innovative Cogeneration technology. PCPC is a special purpose company established for the Third-Party Cogeneration Project of Saudi Aramco. The project formed as a joint venture between SAPCO and A.R.C.H. W.L.L (ARCH), with project sites in Abqaiq, Hawiyah, and Ras Tanura to generate 876 MW of power and 3,260,000 lb/hr of steam.
Jazan Integrated Gasification Power Company (JIGPC)
In line with the Kingdom’s Future Investment Initiative, Saudi Aramco established a joint venture, named JIGPC, in partnership with Air Products Qudra (55%) and ACWA Power (25%) and SAPCO (20%) to own, maintain, and acquire the gasification, power, and industrial gas assets at Jazan Economic City, representing a total investment value of about $11.5 billion. The Jazan Integrated Combined Cycle Plant is one of the world’s biggest and most complex plants with an installed capacity of 3.8 GW of power, 75,000 tons of oxygen and nitrogen per day, 585,000 tons per hour of steam, and 184,000 Nm3 per hour of hydrogen through complex integrated gasification processes.
Sudair One Renewable Energy Company/Sudair Solar Project
We are a major contributor toward the Saudi Green Initiative. To achieve the key milestone toward the Public Investment Fund’s (PIF) commitment to develop 70% of Saudi Arabia’s renewable energy by 2030, SAPCO along with Badeel (PIF’s Water & Electricity Holding Company) joined the consortium with ACWA Power to establish the 1,500 MW Sudair Solar Plant Project. SAPCO will hold 30% of the equity, while the remaining 70% will be equally owned by Badeel and ACWA Power in this $960 million company. Sudair PV IPP is one of the world’s largest single-contracted solar PV plants and the largest in Saudi Arabia. Equipped with a bifacial module tracking technology, it will provide the cleanest power to 185,000 homes at 1.239 cents/kwh, which is the second-lowest cost globally, while offsetting 2.9 million tons of CO2 on a yearly basis.
Commercialization of Power Services
SAPCO provides the full value chain of power services, including but not limited to, the following:
- Power Systems technical studies
- Electrical Systems O&M
- Power Systems Planning and project development
- Power system Investment consultation
- Renewables energy development
King Salman Energy Park (SPARK) O&M Contract
SAPCO has been contracted to provide all the electrical operation and maintenance (O&M) services as a sole service provider to the King Salman Energy Park, located to the east of Abqaiq, Eastern Province, Saudi Arabia, starting from the second quarter of 2021. SPARK is a 50 km2 energy city mega-project being developed by the Energy City Development Company (ECDC) to position Saudi Arabia as a global energy and technology hub to cater to local and foreign investors in the energy sector. It will provide an ideal environment for its land tenants to establish and expand their operations in Saudi Arabia. As a service provider, SAPCO is committed to providing uninterruptible power operations to SPARK’s customers.
Managing customer power demand by selling excess power generated by Saudi Aramco’s power generation fleet.