Abu Dhabi National Energy Company (TAQA) and Japan’s JERA have announced the financial closure of Najim Cogeneration Company Limited, a new plant in Jubail, Saudi Arabia. The facility will supply power and steam to a local petrochemical complex.
The cogeneration plant will produce up to 475 megawatts (MW) of electricity and 452 tonnes per hour (TPH) of steam, utilising advanced combined cycle gas-fired technology with J-Class gas turbines.
TAQA and JERA will develop the plant through a special purpose entity, with TAQA holding 51 percent and JERA 49 percent. The project will operate on a 25-year build-own-operate basis, with a potential five-year extension. The companies have also formed another entity to handle the plant’s operations and maintenance.
This financial closure follows an agreement between TAQA, JERA, and Saudi Aramco Total Refining and Petrochemical Company (SATORP) for the supply of power and steam. The plant will meet stringent efficiency standards and includes provisions for future carbon capture and hydrogen cofiring. The SATORP expansion project is expected to host one of the GCC’s largest mixed-load steam crackers.
