Abu Dhabi National Energy Company PJSC (TAQA) and Japan’s JERA Co., Inc. have successfully reached financial closure for Najim Cogeneration Company Limited. This new cogeneration plant will provide both electricity and steam to a petrochemical complex in Jubail, Eastern Province, Saudi Arabia.
The plant is set to deliver up to 475 megawatts (MW) of power and approximately 452 tonnes per hour (TPH) of steam through advanced combined cycle gas-fired technology. It will be developed by a joint venture, with TAQA holding a 51% stake and JERA a 49% stake. The project will be managed on a 25-year build, own, and operate basis, with an option to extend for an additional five years upon mutual agreement. TAQA and JERA will also handle the plant’s operation and maintenance through a dedicated special purpose entity.
The financial closing follows a Power and Steam Purchase Agreement signed with Saudi Aramco Total Refining and Petrochemical Company (SATORP) in March 2024. SATORP is a joint venture between Saudi Aramco and TotalEnergies.
Farid Al Awlaqi, CEO of TAQA’s Generation business, commented: “Reaching financial close is a significant achievement that underscores our role as a leading partner in large-scale utility projects. This project, our third generation initiative in Saudi Arabia, will enhance our capacity by adding 475 MW of power and 452 TPH of steam, using the latest J-Class gas turbine technology. We are committed to expanding our capabilities and delivering reliable, efficient energy solutions.”
Steven Winn, Chief Global Strategist at JERA, added: “The financial close of the SATORP Strategic Expansion Cogeneration plant is a major milestone for all involved. This project reflects our strategy of providing efficient, sustainable, and advanced energy systems, aligning with the Kingdom’s goals for a sustainable energy future. The cogeneration plant, utilizing advanced J-class gas turbine technology, will optimize energy efficiency, reduce environmental impact, and support SATORP’s expansion efforts. It sets new benchmarks for operational performance and sustainability.”
The plant will feature advanced power and steam generation systems, gas and water receiving systems, and gas-insulated switchgear. It is designed to meet the rigorous efficiency standards of the Saudi Energy Efficiency Center and includes future provisions for carbon capture technology and hydrogen co-firing. The SATORP complex is expected to house one of the largest mixed-load steam crackers in the GCC region.
