Quantum Materials Corp. (fka QTMM)

[puravida19]

Do you think he is talking about us?
this is pure speculation, but would be nice!
See the bold type below -

Saudi Electricity to spend SR75bn on 6 IPP projects
Reem Shamseddine | Reuters
http://www.arabnews.com/?page=6§ion=0&article=127791&d=27&m=10&y=2009

RIYADH: The Saudi Electricity Co. plans to spend SR75 billion ($20 billion) to add more than 10,000 megawatts (MW) of generation capacity through six independent power producer (IPP) projects, a top official said on Monday.

Saudi Arabia is facing rapid power demand growth as it builds infrastructure and heavy industry it hopes would diversify its economy away from dependence on oil revenues. The economic boom sparked by the oil rally of 2002-08 contributed to rapid economic growth.

SEC plans to spend SR300 billion ($80 billion) to add a total of 20,000 megawatts through 2018, plus SR75 billion ($20 billion) on IPP projects.

Amer Al-Swaha, the head of IPP at SEC, said of the total investments of around $100 billion some $46 billion would go for power generation, $30 billion would be spent on transmission and $20 billion on distribution.

IPP projects slated for completion from 2013 to 2021 include the 1,200 MW Rabigh plant, the Riyadh 2,000 MW PP11 plant, a 2,000 MW Qurayyah plant, a 1,000 MW plant in Dheba, a 2,520 MW plant in Ras Azzour and an 800 MW plant in Shuqaiq, Swaha said.

He told the Reuters Middle East Investment Summit in Riyadh five consortiums were preparing bids due on Dec. 7 for the Riyadh plant. He named them as International Power with Saudi Oger and Korea Electric Power Corp. (KEPCO); GDF Suez with Al-Jomaih; Mitsubishi Corp. with Acwa Power and Japan’s Tokyo Electric Power); and Tenaga Nasional Berhad of Malaysia, Sumitomo Corp. and Saudi Binladin Group.The fifth consortium is Japan’s Marubeni in an alliance with Kansai Electric of Japan and Saudi Masader, Swaha said. The Riyadh combined cycle plant would use gas as prime fuel, he said. It is expected to cost between $2 to $2.5 billion, Swaha added.

“This plant will have high efficiency ... and will be environmentally friendly,” he added.

Tenders for the Qurayyah plant, which is expected to cost between $3 to $3.5 billion would be issued in the first half of 2010, he informed.

SEC manages 37,000 MW of power generation capacity from 45 plants.

It plans to almost double its generation capacity to 70 gegawatts from the current 40 gegawatts by 2020, Swaha said, adding that SEC is planning to retire some old plants from this year till 2015.

Swaha said his company is also considering investing in solar energy, “which means saving barrels of oil to the Kingdom which can be sold at a much higher price than domestic energy prices.”

“We are involved in a feasibility study for a 20 to 30 MW solar power plant in the Kingdom,” he said.

Saudi Electricity depends 40 percent on gas to fire power plants and 60 percent on heavy fuel oil, Swaha said.