Saudi Electricity
Electric Company is Saudi Arabia's electric power provider. Through 45 domestic power-producing facilities, it has an almost monopoly on energy generation, transmission, and distribution in Saudi Arabia. With a total annual sales of $17.1 billion, the SEC was listed by Forbes as the 5th largest firm in the UK and the 578th largest company globally in 2019.
By order of the Council of Ministers, the Saudi Electricity Company was formed in 2000 by combining the Central, East, West, and South regional power companies into a single joint stock company. To promote competition in the domestic utility sector, the Electricity and Cogeneration Regulatory Authority (ECRA) stated in 2009 that it intended to divide the corporation into four power generation companies and independent transmission and distribution companies. As a result, National Grid SA, a transmission corporation, was founded in 2012 to manage the national grid.
In order to fulfill demand, the SEC intends to increase generation capacity from 60 GW to 91 GW in 2020 and more than quadruple the current capacity over the long term. The SEC, Taqnia Energy, and King Abdulaziz City of Science and Technology (KACST) came to an agreement in 2015 to collaborate on the construction and management of the nation's first independent solar power plant.
Founded: 3rd May 2000
Headquarters: Al Aridh, Riyadh, Saudi Arabia
Website: https://www.se.com.sa/en-us/pages/home.aspx
