🔌 Tecnicas Reunidas & Orascom Win $2.6B Saudi Power Plant Expansion Deal

Spanish engineering group Tecnicas Reunidas and Egypt’s Orascom Construction have been awarded a $2.6 billion contract to expand a major 3-gigawatt combined cycle gas-fired power plant in Saudi Arabia. The project, structured as a 50-50 joint venture, will not only increase the plant’s capacity but also include the development of carbon capture infrastructure, supporting the Kingdom’s energy transition goals. Additionally, the contract covers the construction of a 380-kilovolt (kV) electrical substation, vital for integrating the expanded capacity into the grid. This contract is one of several recent wins for Tecnicas Reunidas across the Middle East and other key markets, contributing to the company’s ambitious goal to triple its net profit by 2026 compared to 2023. Credit: Saudi Electricity Company