1.5 billion US-Dollar order for Siemens Energy in Saudi Arabia: Efficient combined cycle power plants for the country's energy supply

Press release

Berlin, June 24, 2024

1.5 billion US-Dollar order for Siemens Energy in Saudi Arabia: Efficient combined cycle power plants for the country's energy supply

Saudi Arabia has a strategy to reach net zero by 2060 and is relying on modern, highly efficient gas- fired power plants in combination with CO2 capture and storage, to significantly reduce its emissions. Siemens Energy is supplying key power plant technologies that will provide almost

4 gigawatts to the Kingdom, and in addition has also entered a long-term maintenance contract for 25 years for the two power plants, with a total value of approximately USD 1.5 billion.

Taiba 2 and Qassim 2, two of the world's largest, modern, and efficient combined-cycle power plants, will be built in the western and central regions of Saudi Arabia over the next few years. Siemens Energy´s gas turbines (HL-class), in combination with steam turbines and generators, will generate approx. 2,000 megawatts of electricity at each site. EPC and contracting partner for Siemens Energy is China Energy International Group.

Karim Amin, Member of the Executive Board of Siemens Energy and responsible for the Business Area of Gas Services: "Saudi Arabia is driving forward its vision 2030 to transform the Kingdom into a pioneering economic location. The new gas-fired power plants will provide reliable energy supply and contribute to the sustainable and future-oriented development of the country. Our

Siemens Energy local service hub in Dammam will make an important contribution in expanding and localizing technology and competencies in the Kingdom."

The new power plants will provide additional energy for the country's growing population and booming economy and replace parts of Saudi Arabia's existing aging power plant fleet, some of which rely on oil as an energy source. The new plants will save up to 60 percent of CO2 compared with oil-fueled power plants. They will also be compatible with the Kingdoms' energy strategy which calls for the construction of CO2 capture and storage facilities in the medium term, to enable a carbon-neutral energy supply.

Siemens Energy AG

Otto-Hahn-Ring 6

81739 Munich

Germany

Siemens Energy is a trademark licensed by Siemens AG.

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Press release

Taiba 2 and Qassim 2 will initially be connected to the grid in simple cycle mode in 2026 and will be permanently operated as a combined cycle power plant one year later.

Contact for journalists

Sabine Sill

Press Spokesperson Gas Services

Phone: [phone]

E-mail:[e-mail]

Iain Packham

Press Spokesperson Middle East, Africa

Phone: [phone]

E-mail:[e-mail]

This press release is available at www.siemens-energy.com/press

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Siemens Energy is one of the world's leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain - from power and heat generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers.

Its wind power subsidiary Siemens Gamesa makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 99,000 people worldwide in more than 90 countries and generated revenue of €31 billion in fiscal year 2023. www.siemens-energy.com

Siemens Energy AG

Otto-Hahn-Ring 6

81739 Munich

Germany

Siemens Energy is a trademark licensed by Siemens AG.

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