Saudi Electricity shareholders approve sale of subsidiary
Shareholders of the Saudi Electricity Co. have approved the sale and transfer of ownership of its subsidiary, Saudi Power Procurement Co. to the government, the utility said in a Tadawul bourse statement on Monday.
The sale and transfer, first proposed in November last year, comes as part of the power sector restructuring program announced in 2020.
SPPC is responsible for tendering renewable and conventional energy projects and manages commercial agreements for the procurement and sale of power.
SPPC is responsible for tendering renewable and conventional energy projects and manages commercial agreements for the procurement and sale of power.
