At 17:50 Saudi local time on November 26,SEPCOIII and ACWA Power and Saudi Electric Power Company signed thepre-commencement agreement for Saudi Taiba1 and Qassim1 projects in Riyadh,Saudi Arabia. Song Junji, Vice Governor of Shandong Province and SecretaryGeneral of the Provincial Government attended the signing ceremony to witnessthe signing of the project agreement. Chen Yunpeng, Member of the PartyCommittee and Deputy General Manager of SEPCOIII, signed the agreement with Mr.Sander, Vice Chairman of ACWA Power and Mr. Ibrahim Al Jab, Executive Vice Presidentof Saudi Power Company.

At the signing ceremony of the agreement,Sander and Song Junji delivered speeches respectively. Sander welcomed thevisit of the Shandong Provincial government delegation to ACWA Power, he saidthat ACWA Power and SEPCOIII has been cooperating for many years, lookingforward to further deepening the cooperation between the two sides in thefuture and working together for common development. Song Junji said that therelationship between Shandong Province and ACWA Power has a long history, andthe cooperation between SEPCOIII and ACWA Power has made the cooperationbetween the two sides closer. Shandong Province is the main province of energyproducing and energy consuming in China. We will carry out broader and deepercooperation in energy, seawater desalination and other fields.

The Taiba1 and Qassim1 projects signed thepre-start agreement have an installed capacity of 1,800 MW, using the world’slatest gas turbine, using air cooling island cooling, is currently the largestgas turbine power plant project in the Saudi market. The Taiba1 Project islocated in the Western Province of Saudi Arabia, about 100 kilometers southeastof Medina. The Qassim 1 Project is located in the central province of SaudiArabia, about 300 km northwest of Riyadh city.

Chen Fei, Director of the Department ofCommerce of Shandong Province, Li Yongsen, Deputy Director of the ForeignAffairs Office of the Shandong Provincial Party Committee, Hu Bo, DeputyDirector of the Development and Reform Commission of Shandong Province andDirector of the Shandong Energy Bureau, Li Fengli, General Manager of ShandongPort Group, Han Yaodong, Deputy Mayor of Yantai City and other leaders of theShandong delegation and relevant personnel of ACWA Power and the companyattended the signing of the agreement.