Saudi Electricity backs Rabigh 2: what it means for Saudi Electricity stock

Published on 10/09/2026 at 14:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rabigh 2 closed financing at SAR 9.69 billion on October 1, 2026. Saudi Electricity stock had SAR 102.20 billion revenue versus SAR 88.70 billion.

Key points in brief

Saudi Electricity was linked to the SAR 9.69 billion Rabigh 2 financing close announced on October 4, 2026.
The project has 2,313.50 MW of planned capacity and is expected to affect operations from the second quarter of 2029.
Fiscal 2025 operating revenue reached SAR 102.20 billion, up from SAR 88.70 billion.
The stock was last at SAR 15.27 on Tadawul on October 8, 2026, down 1.93 percent from SAR 15.57.

Saudi Electricity, SA0007879550, Illustration mit AI erstellt.

Saudi Electricity stock is tied to the Rabigh 2 expansion, where financial close was reached on October 1, 2026 for SAR 9.69 billion of financing. As Arab News reported on October 4, 2026, Saudi Electricity and Acwa Power each hold an effective 40 percent stake in the project. Oil and Gas News reported that fiscal 2025 operating revenue reached SAR 102.20 billion versus SAR 88.70 billion in fiscal 2024.

What does the project add?

Rabigh 2 is designed as a 2,313.50 MW combined-cycle gas plant in western Saudi Arabia, with provision for future carbon-capture equipment. The financing has a tenor of 34 years, while commercial operations are expected to begin in the second quarter of 2029, according to Arab News.

Three milestones shape the story

On March 3, 2026, Saudi Energy reported fiscal 2025 operating revenue of SAR 102.20 billion and net profit of SAR 12.98 billion, compared with SAR 6.87 billion in fiscal 2024, according to Oil and Gas News. On April 1, 2026, the Rabigh 2 power purchase agreement was valued at SAR 11.50 billion, according to KingdomWire. The October 1, 2026 financing close is the latest milestone.

What dates matter next?

The next clearly stated project date is the second quarter of 2029, when commercial operations are expected to begin. The financial close date of October 1, 2026 sets the funding point for the construction phase and links the project to a long-dated operating contribution.

Stock trades below its yearly high

Saudi Electricity was last at SAR 15.27 on Tadawul on October 8, 2026 at 3:19 p.m. AST, down 1.93 percent versus the prior close of SAR 15.57. Its 52-week range was SAR 13.00 to SAR 18.48, while market capitalization stood at SAR 63.6 billion as of October 8, 2026.