According to Amac News: Based on a statement from TAQA, the company, along with JERA and Al Bawani Capital, a subsidiary of Al Bawani Holding, has signed two 25-year Power Purchase Agreements (PPAs) with the Saudi Power Procurement Company (SPPC). 
The agreements aim to develop two power plants in Saudi Arabia on a build, own, and operate (BOO) basis. These power purchase agreements follow SPPC’s announcement of awarding contracts for the independent power producer (IPP) projects with a capacity of 1.8 GW for Rumah 2 and 1.8 GW for Al Nairyah 2 to a consortium comprising TAQA, JERA, and Al Bawani. 
The Rumah 2 and Al Nairyah 2 projects support the Kingdom’s energy mix goals, which aim to meet 50% of electricity production from renewable sources and 50% from gas technology by 2030. 
These power plants are also aligned with the Saudi Green Initiative, which aims to achieve net-zero greenhouse gas emissions through a circular carbon economy by 2060 or earlier, depending on the availability of necessary technologies. 
The two new plants will be developed by special purpose entities owned by TAQA (49%), JERA (31%), and Al Bawani (20%), with operation and maintenance (O&M) of the plants to be undertaken by the partners through respective O&M special purpose entities with the same shareholding structure.