BUSINESS

SPARK appoints SAPCO to deliver cutting edge power services to investors

November 12, 2021
SPARK appoints Saudi Aramco Power Company (SAPCO) to deliver cutting edge power services to investors.
SPARK appoints Saudi Aramco Power Company (SAPCO) to deliver cutting edge power services to investors.

ALKHOBAR — SPARK Utilities announced the appointment of Saudi Aramco Power Company (SAPCO) as operation and maintenance services provider to manage power infrastructure and services at SPARK; the world leading energy-centric ecosystem.

The appointment of SAPCO is a defining moment in SPARK’s development, as it will enable the energy hub to energize its power distribution network thus lowering costs and barriers to entry to investors.

With the first phase of development nearly complete, SPARK has established SPARK Utilities; a subsidiary company to distribute power, water, and gas distribution within the city and to manage the utilities infrastructure at international standards.

President and CEO of SPARK Saif S. Al Qahtani underlined the significance of the moment: “In taking a step closer to the energization of the city, we give further proof that we can satisfy our investors’ requirements and work together with them to fulfill Saudi Arabia’s 2030 Vision of enabling a thriving economy and a robust energy cluster in the Kingdom.

“Our plug-and-play concept reassures investors that SPARK’s ecosystem gives them all they need to do business here.”

SPARK’s value proposition targets investors and partners of all sizes. During the past two years, SPARK signed investment agreements with over 30 major energy and technology companies to invest in the energy park, with an additional 15 companies in the pipeline.

It is expected that foreign direct investment in the park will exceed $2.4 billion in the years ahead once investors complete construction of their facilities.

SPARK’s plug-and-play concept is key to enabling investors to achieve their growth objectives, as the utilities infrastructure is built right up to the edge of the boundary of each plot. This allows them to operate immediately with no delay and at a reduced capital.

SPARK Utilities Company CEO Einas Al Ashgar added: “Our partnership with SAPCO is a key milestone in the progress we are making to provide a sustainable platform with a world-class infrastructure and services for our investors.

“Convenient and reliable access to power is an essential factor for investors seeking to base themselves at the heart of the regional energy sector and allows them to benefit from the all-inclusive, full-service environment available at SPARK.”

SAPCO CEO, Abdulaziz Al Naim explained the benefits of the smart grid system: “We are proud that SPARK Utilities is putting its full confidence in us to oversee power infrastructure and services at SPARK.

“The Smart Grid System introduced as part of the SPARK Energy Hub allows investors to confidently expect full and reliable power access right from the very first moment they start operations. The smart grid system provides increased access to real-time data on power consumption and usage and ensures business continuity and smart power usage.”

SPARK offers high-quality ecosystem which include world class infrastructure, logistics park, advanced network of electric power, water, sales gas, sanitation systems, drainage and the most modern communications network in the Kingdom, all constructed with the environment and long-term sustainability in mind.

SPARK will create significant employment, further diversify the economy, and attract additional foreign investment into the Kingdom. — SG


November 12, 2021
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