Doosan Enerbility announced on April 29 that it has signed a contract with Saudi Arabia's state-owned electricity company, Marafiq, for a fuel conversion project at the Yanbu 2 power plant, valued at $100 million.
The contract signing ceremony took place on April 27 (local time) in Jubail, Saudi Arabia, with key representatives present, including Jamal Abdulrahman Omar, Senior Vice President of Marafiq, and Son Seung-woo, Head of Power Services BG at Doosan Enerbility.
The project focuses on transforming the existing oil-fired power plant into a gas-fired facility. Doosan Enerbility plans to supply critical equipment, such as combustion systems and Distributed Control Systems, and oversee the commissioning process, aiming for completion by 2028. Upon completion of the fuel conversion, the Yanbu 2 power plant is expected to maintain its current generation capacity of 1,375 MW while reducing carbon emissions by approximately 25%.
The Yanbu 2 power plant is located in the Yanbu Industrial Complex, approximately 350 km north of Jeddah, and was commissioned in 2013 to supply power to the industrial zone. At that time, Doosan Enerbility provided key components including boilers and steam turbines.
Son Seung-woo, Head of Power Services BG, stated, "The fuel conversion of the power plant is considered an economical low-carbon energy solution, as it optimally utilizes existing facilities while minimizing operational downtime." He further emphasized, "We are committed to ensuring that the project timeline and quality meet the expectations of our client, enabling a reliable power supply to the Yanbu Industrial Complex."
Additionally, projections indicate that Saudi Arabia will award approximately 1.4 GW of fuel conversion projects annually until 2027. Doosan Enerbility is actively pursuing fuel conversion initiatives in various countries, including Chile and Vietnam, alongside this Saudi project, continuously enhancing its competitiveness in the global sustainable energy market.
