Najim Cogeneration Co. has completed the fundraising for the development of a forthcoming industrial steam and power cogeneration facility in Jubail, securing financial closure.
The plant, a joint venture between Japan’s JERA Co. Inc. and Saudi Arabia’s Abu Dhabi National Energy Co., or TAQA, would provide steam and electricity to a sizable petrochemical complex in the Eastern Province of Saudi Arabia.
51 percent of TAQA and 49 percent of JERA control the plant, which will run on a 25-year build, own, and operate model with a possible five-year extension.
The state-of-the-art combined cycle gas-fired cogeneration plant is expected to produce up to 475 megawatts of power and roughly 452 tons of steam per hour.
“This is our third-generation project in the Kingdom of Saudi Arabia and we will be developing an advanced cogeneration steam and power plant using the latest highly efficient J-Class gas turbine technology in partnership with JERA,” stated Farid Al-Awlaqi, CEO of TAQA’s generation business.
He declared that the plant, which uses J-Class gas turbine technology and would maximize energy efficiency while minimizing environmental effect, is under TAQA’s management for both development and operations.
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