ÅF has signed an agreement worth 1.7 million EURO with Saudi Electricity Company (SEC) in Saudi Arabia.
ÅF will continue providing support to the Kingdom electricity utility in its internal restructuring. The task is oriented to put in place a competitive market in the long term, through a phased process. ÅF was chosen because of our long experience and proven expertise in restructuring electricity markets, and implementation of market administration institutions.
The project covers the practical implementation of the different internal processes of the new business unit of SEC. As well as the execution of several supporting activities that will favour the performance of the Principal Buyer responsibilities:
- Installation and capacity building for the usage of the ORDENA model, a property software for projecting and simulating the short and medium term operation of the electricity system.
- Development of a sustainable strategy for the promotion of renewable energy generation investments and nuclear power integration.
- Design and implementation of all the necessary fuel supply agreements for Generation Company (SEC owned) and Independent Power Producers.
- Carry out the first year-ahead generation forecast for 2015 operational planning of the system.
- Reinforce the modeling and forecasting capabilities of the new business unit.
- Management of the balancing fund intended to allocate subsidies to the system in a transparent and efficient way.
- Develop international cooperation with institutions and operating companies of the European and other Middle East countries.
The main tasks in the contract have been planned to allow the new business unit to be operative by the end of 2014.The contract is for two years, and during 2015 supporting and on the job training activities will be executed.