ACWA Power Company announces the signing of a Power Purchase Agreement (“PPA”) with the Saudi Power Procurement Company (“SPPC”) (“Principal Buyer”)

Element List	Explanation
Introduction	ACWA Power Company announces the signing of a PPA with SPPC for large-scale Combined Cycle Gas Turbine (“CCGT”) Power Plant, namely Qurayyah IPP Expansion Project. The Project is located in the Eastern province of Saudi Arabia, with a power generation capacity of 3,010 MW with Readiness to Build Carbon Capture Units.

ACWA Power holds an effective shareholding of 40% in the Project. Date of Announcement of the Award 2025-02-19 Corresponding to 1446-08-20 Contract Subject Matter Power Purchase Agreement (“PPA”) The Entity with Which the Contract was Signed Saudi Power Procurement Company Date of Signing the Contract 2025-02-19 Corresponding to 1446-08-20 Contract Value SAR 13.4 billion Contract Details 1- Development, Financing, Building, Owning and Operating a natural gas-sourced CCGT power plant

2- Development, Financing, Building, and Transferring a 380kV electrical substation. Contract Duration 25 years from the plant’s expected project commercial operation date. Financial Impact and the Relevant Period The financial impact of the operation will be announced once the Project achieves it financial close. Related Parties Saudi Electricity Company (SEC).

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