KfW Bank financing large Saudi combined cycle plant

KfW IPEX-Bank is one of several parties participating in the financing of the construction of the new Qurayyah IPP in the Kingdom of Saudi Arabia.

With an installed capacity of approximately 4 GW, the project on the Arabian Gulf will be one of the world’s largest and most advanced combined cycle power plants, according to KfW.

At the heart of the plant will be high-efficiency Siemens gas turbines which achieve reduced carbon emissions through highest conversion rates. The project’s owners plan to bring the new power plant online in 2014.

A total of $2.8bn will be invested in the new plant.

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