Saudi ECRA’s projects need SAR 526 bln worth of financing

The Electricity & Cogeneration Regulatory Authority (ECRA) took on more than SAR 29.5 billion in projects during 2016, which would require SAR 526 billion in estimated financing according to its annual report.

The projects included power generation projects at SAR 1.4 billion, power transmission contracts at SAR 8.1 billion to set up a number of plants with 380 kV in capacity and more than SAR 13.7 billion in distribution agreements.

ECRA’s projects are expected to lure private sector investments until 2020, in sectors including private power-production, power cogeneration and water desalination projects.

Private sector companies may also construct, lease, and operate transport lines; set up power-generation, power cogeneration or water desalination firms. They may also agree to manage existing facilities and set up power transmission and distribution firms.