The board of state-led utility Saudi Electricity Company (SEC) has approved a plan to offer power generation projects with a combined capacity of 5.4GW to private sector investors, the equivalent of 9.5% of its current 57GW installed capacity.

The new capacity will be developed in phases, the company told the Saudi Stock Exchange (Tadawul) on 3 October. SEC has not indicated whether the capacity increment will comprise already announced projects or plants additional to the existing 28GW Saudi powergen projects pipeline. However, two announced but so far untendered projects have a combined capacity in line with the announcement. (CONTINUED - 424 WORDS)