Saudi Electricity Company (SEC) is the primary electric utility in Saudi Arabia, formed in 2000 through the merger of four regional companies. It has since expanded generation capacity, modernized the grid, and listed on Tadawul.
Saudi Electricity Company (SEC) is established by royal decree, merging four regional electric utilities: Saudi Consolidated Electric Company (SCECO) in the Central, Eastern, Western, and Southern regions. #energy #history
SEC starts full commercial operations as a single entity, serving over 3 million customers across Saudi Arabia. #energy #business
SEC completes its IPO on the Saudi Stock Exchange (Tadawul), offering 50% of its capital to the public, raising $1.4 billion. #finance #IPO
SEC announces a major expansion plan to add 1,200 MW of generation capacity to meet growing demand. #energy #infrastructure
SEC connects to the Gulf Cooperation Council (GCC) power grid, enhancing regional electricity trading and reliability. #energy #cooperation
Eng. Saleh Al-Awaji is appointed as CEO, leading the company through a period of rapid expansion and modernization. #leadership
SEC launches a pilot smart grid project in Riyadh, aiming to improve efficiency and reduce outages. #technology #smartgrid
SEC's total installed generation capacity reaches 40 GW, nearly doubling from 2001 levels, driven by power plant additions. #energy #growth
SEC announces a $50 billion, 10-year expansion plan to add 20 GW of capacity and upgrade transmission networks. #investment #infrastructure
SEC receives ISO 9001 quality management certification for its operations, reflecting improved service standards. #quality #certification
SEC signs a $1.2 billion agreement with Siemens to supply gas turbines for new power plants, boosting efficiency. #energy #partnership
SEC commissions the PP12 power plant in Riyadh, adding 2,000 MW to the grid using combined-cycle technology. #energy #infrastructure
SEC introduces the Homeconnect program to provide free electricity connections to low-income households, expanding access. #social #energy
SEC issues a $1.5 billion green bond to finance renewable energy and energy efficiency projects, a first for the Kingdom. #finance #green
Eng. Ziad Al-Suhaibani becomes CEO, focusing on digital transformation and renewable energy integration. #leadership
SEC launches a nationwide smart meter deployment, aiming to install 10 million smart meters by 2022. #technology #smartgrid
SEC partners with General Electric to digitize power plants using Predix software, improving efficiency and reducing emissions. #technology #partnership
SEC commissions the Sakaka solar farm, the first large-scale renewable energy project in Saudi Arabia, with 1,000 MW capacity. #renewable #energy
SEC's total generation capacity reaches 80 GW, making it one of the largest utilities in the Middle East. #energy #growth
SEC acquires Engie's power and water assets in Saudi Arabia for $1.5 billion, expanding its portfolio. #merger #acquisition
SEC launches a virtual power plant pilot program aggregating distributed generation and storage resources. #technology #smartgrid
SEC successfully lists a $1.2 billion green sukuk (Islamic bond) on Tadawul to fund sustainable projects. #finance #sukuk
SEC completes installation of 10 million smart meters nationwide, achieving full coverage for residential and commercial customers. #technology #smartgrid
SEC signs an agreement with Saudi Aramco to develop carbon capture and storage (CCS) projects at natural gas power plants. #environment #technology
SEC receives the 'Best Utility in the Middle East' award at the MEED Energy Awards for operational excellence. #awards #recognition
SEC announces a target to source 50% of its generation capacity from renewable sources by 2030, aligning with Saudi Vision 2030. #renewable #sustainability
SEC acquires a 30% stake in ACWA Power's renewable energy portfolio for $2.3 billion, bolstering its clean energy assets. #merger #acquisition
SEC breaks ground on a 2.5 GW wind farm in Dumat Al-Jandal, the largest in the Middle East, as part of its renewable expansion. #renewable #energy
SEC announces annual revenue of $25 billion for fiscal year 2024, driven by tariff reforms and increased demand. #finance #results