Rabigh 2 secures SAR 9.69 billion financing: Saudi Electricity stock sits 16.88 percent below high

Published on 10/13/2026 at 09:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rabigh 2 has 2,313.5 MW capacity and earnings impact from 2029. Saudi Electricity stock has SAR 64.0 billion market value on October 13, 2026.

Key points in brief

Saudi Electricity was tied to the SAR 9.69 billion financing close for the Rabigh 2 power expansion on October 4, 2026.
The project has 2,313.5 MW capacity, with operating impact expected from the second quarter of 2029.
Second-quarter 2026 profit was SAR 2.6 billion, down 14 percent, while first-half profit rose 20 percent to SAR 2.2 billion.
Saudi Electricity stock was at SAR 15.36 on Tadawul on October 13, 2026, with a SAR 13.00 to SAR 18.48 52-week range.

Saudi Electricity, SA0007879550, Illustration mit AI erstellt.

Saudi Electricity (ISIN SA0007879550) was tied to the SAR 9.69 billion financing close for the Rabigh 2 expansion on October 4, 2026. As Arab News reported, the project has 2,313.5 MW capacity and Saudi Electricity expects operating impact from the second quarter of 2029.

Three financing milestones shape the story

On July 28, 2026, Saudi Electricity disclosed financing facilities worth SAR 15.8 billion, according to Argaam. On August 23, 2026, the company reported agreements worth SAR 3.3 billion for three energy-storage projects, with a 35.1 percent stake in each project, the same Argaam page shows. On October 4, 2026, Rabigh 2 reached financial close with 2,313.5 MW planned capacity and SAR 9.69 billion of financing, Arab News reported.

What does Rabigh 2 mean for earnings?

The project gives Saudi Electricity a long-dated infrastructure contribution rather than an immediate earnings boost. The company expects operating impact from the second quarter of 2029, while the 2,313.5 MW capacity provides a concrete scale marker for the investment cycle.

Second-quarter profit fell 14 percent

Argaam reported first-half 2026 profit of SAR 2.2 billion, up 20 percent, while second-quarter profit reached SAR 2.6 billion, down 14 percent. That contrast places project timing beside a mixed near-term earnings profile and makes the 2029 contribution date material for the investment case.

Saudi Electricity stock stays below its high

Saudi Electricity stock was trading at SAR 15.36 on Tadawul on October 13, 2026 at 10:10 a.m. AST. Its SAR 64.0 billion market value and SAR 13.00 to SAR 18.48 52-week range put the quote 16.88 percent below the high, calculated against the SAR 18.48 upper bound.

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