KEC’s scope for the Oman project includes the design, supply, installation, testing, and commissioning of the transmission lines.

The project, part of Saudi Arabia’s Liquid Fuel Substitution Program, aims to provide the plant with a 92.2 MVA electricity load capacity, reducing reliance on liquid fuels.

The deal, valued at €3.2 billion ($3.3billion), is the largest energy transaction in the history of the Athens Stock Exchange and one of the largest in the European renewables sector.

The SPPC unveiled the prequalified developers for the tender, which aims to add 4,500 MW of solar and wind capacity to Saudi’s energy mix.

The deal will see Al-Babtain provide the steel infrastructure for the 500kV HVDC project, with deliveries scheduled to begin in Q3 2025.

Following financial close, the Saudi Power Procurement Company (SPPC), the main off-taker, has approved construction mobilisation.