Saudi’s SEC presents proposal for $1.8bn projects

Published: 17 February 2020 - 11:49 a.m.
By: Baset Asaba

Saudi Electricity Company has submitted an integrated proposal for nine energy and electricity projects worth $1.8bn for high voltage and distribution.

The projects were revealed during a meeting where Madinah governor, Prince Faisal bin Salman received the undersecretary of the Ministry of Energy for electricity affairs, Naif al-Abbadi, CEO of the Saudi Electricity Co., Fahad al-Sudairi, and members of the company’s executive board, reported Asharq Al-Awsat.

The officials briefed Prince Faisal on the projects under implementation and the projects being awarded during this year, including the smart meter project, which the company began implementing in the Madinah region.

The governor praised the qualitative performance of the Electricity Company at all levels, asserting the importance of improving the visual identity of electric power plants in the regions. He added that authorities were working on making Madinah eco-friendly through new LED technology on energy-saving public roads.

Madinah’s electric system serves more than 700,000 subscribers in the region, with 7 percent at Kingdom level, along with an increase in power generation capacity of 29 percent during the past four years.

Saudi Electricity continues to work on a transformation of household power plants, as it concluded in December contracts for the implementation of the smart meters project, including the installation of 10 million units for all subscribers in all regions of the Kingdom.

CEO of the Saudi Electricity Co., Fahad al-Sudairi said there will be additional cost for subscribers in exchange for the installing of smart meters, indicating that the new meters will help the subscriber control the consumption and rationalize expenses.

The Saudi government also aims to be more energy efficient and reduce pollution emitted from electricity energy sources.

The government also localized the content used in the electric power industries, with 3.5 million meters supplied by the local factories, while one third of the project’s value would be from the local content.

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