GD Power, TGood Snag Saudi Arabia Projects

MT Newswires Live

01-20

GD Power Development (SHA:600795) and Tgood Electric (SHE:300001) signed major project contracts in Saudi Arabia, according to separate filings.

GD Power Development will establish a $1.11 billion joint venture with Abu Dhabi Future Energy Company, and Korea Electric Power (KRX:015760), according to a Friday filing with the Shanghai Stock Exchange.

The JV will construct a 2 gigawatt solar power plant and power transmission facilities in As Sadawi, Eastern Province, Saudi Arabia, the filing said.

TGood snagged a 353-million Saudi riyal contract for power equipment supply and installation services for 132-kilovolt mobile substations from Saudi Electricity unit National Grid, according to a separate filing with the Shenzhen bourse Thursday.

Delivery of the substations is slated for April.

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