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TAQA and JERA have announced the financial closing of the Najim Cogeneration Company Limited, a new industrial steam and electricity cogeneration plant in Jubail, Saudi Arabia. The plant will supply 475 megawatts of power and approximately 452 tonnes per hour of steam using advanced combined cycle gas-fired technology. The project, developed by a special purpose entity owned by TAQA (51%) and JERA (49%), will operate on a 25-year build, own, and operate basis, extendable by five years upon mutual agreement. TAQA and JERA will also handle the plant's operation and maintenance. This financial closing follows a Power and Steam Purchase Agreement signed with SATORP in March 2024. Farid Al Awlaqi, CEO of TAQA’s Generation business, highlighted the milestone as a significant step in TAQA’s growth and efficiency, marking their third generation project in Saudi Arabia.