PARIS, March 4 (UPI) -- French energy giant GDF Suez and the Saudi al-Jomaih Group were chosen as the preferred bidders for a 1,730-megawatt gas-fired power facility in the kingdom.
Five proposals were submitted for the greenfield gas-fired project slated for a site about 75 miles west of Riyadh.
GDF Suez collaborates with General Electric turbines and Hyundai Heavy Industries as the contractors for the independent power project.
"Having been appointed preferred bidder for the Riyadh IPP creates the opportunity for GDF SUEZ to pledge its continued commitment to the development of infrastructure for the future of Saudi Arabia," said Dirk Beeuwsaert, the GDF Suez vice president of Europe and international efforts.
Saudi Arabia aims to expand its installed power capacity from 29,000 MW to 60,000 MW by 2020. The $3.4 billion GDF Suez project goes online later in 2010.
Electricity from the facility will be sold to the Saudi Electric Co. under the terms of a 20-year purchase agreement.
