Saudi Electricity secures SAR 9.69 billion: what it means for Saudi Electricity stock

Published on 10/15/2026 at 10:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rabigh 2 will produce 2,313.50 MW, with operating impact from Q2 2029. The 34-year loan gives Saudi Electricity stock a long project horizon.

Project financing and earnings

Rabigh 2 financing reached SAR 9.69 billion on October 4, 2026.
Saudi Electricity reported SAR 2.2 billion in first-half 2026 profit, up 20 percent.
Investing.com showed a neutral view from 6 analysts and a SAR 16.40 average target.

Saudi Electricity, SA0007879550, Illustration mit AI erstellt.

Saudi Electricity Company (SA0007879550) is part of Al-Morjan Two Electricity Company's SAR 9.69 billion financing for the Rabigh 2 expansion, announced on October 4, 2026, according to Arab News. The project has 2,313.50 MW of planned production capacity.

Three project milestones carry figures

Argaam lists three recent capital commitments for the company. On July 28, 2026, Saudi Electricity signed a SAR 15.8 billion financing facility with seven banks. On August 23, 2026, three energy-storage agreements were valued at SAR 3.3 billion, with the company holding 35.1 percent of each project. On October 4, 2026, the Rabigh 2 expansion reached financial close with a 34-year financing tenor.

What does the project mean for earnings?

The financial contribution is scheduled to begin in the second quarter of 2029, according to Arab News. That timing separates the financing announcement from near-term earnings and places the project value in future operating cash flows. The plant is designed to accommodate carbon-capture units, adding a technical option without changing the stated production capacity.

Results and analyst dates

Saudi Electricity reported SAR 2.2 billion in profit after deductions for the first half of 2026, up 20 percent year over year, while second-quarter profit reached SAR 2.6 billion, down 14 percent, according to Argaam. The same company page lists a September 1, 2026 neutral recommendation from Saudi research house SICO. Investing.com shows a neutral survey of 6 analysts and an average 12-month target of SAR 16.40.

Market value frames the project

Saudi Electricity Company had a market capitalization of SAR 64.5 billion and a 52-week range of SAR 13.00 to SAR 18.48 as of October 15, 2026. The company operates across electricity production, delivery and distribution in Saudi Arabia, with utilities as its sector and regulated electric operations as its industry.