Rabigh Arabian Water & Electricity Company, Ltd.
The Rabigh IWSPP has been established to produce and supply utilities to the Rabigh Refining and Petrochemical Company (Petro Rabigh); jointly owned by Saudi Aramco and Sumitomo Chemical.
RAWEC, registered and head-quartered in Rabigh, Kingdom of Saudi Arabia, is a special purpose company created to develop, own, and operate the Rabigh IWSPP. RAWEC is owned by lead partner ACWA Power (37%), Marubeni (37%), JGC (25%) and Petro Rabigh (1%). The basis for a successful business relationship between RAWEC and Petro Rabigh was formalized by the Water and Energy Conversion Agreement (WECA) in April 7, 2005.
In 2014, RAWEC took a conscious decision to contract its O&M activities to Rabigh Power Company (RPC), through an O&M Agreement. RPC, established in May 2014, is owned by ACWA Power subsidiary, NOMAC (51%), Marubeni (34%) and JGC (15%).
The strong partnership between RAWEC and Petro Rabigh became more pronounced when both parties entered into an amendment to its existing WECA to build, own and operate Rabigh IWSPP 2 for supplying the complex additional utilities to its Rabigh 2 expansion. The amended and restated WECA became effective on March 16, 2015 and will expire on the 25th anniversary of the commencement of the Project Commercial Operation Date (PCOD).
During the initial phase, through IWSPP 1, the facility is able to generate 600 MW of Power, 4,230 t/h of Steam and 8,000 t/h Water. The integrated plant will increase its installed capacity to 840 MW Power, 6,110 t/h Steam and 12,000 t/h Water to meet the demand of the expanded Petro Rabigh Complex.