The firm, which currently has projects to add 1,826 megawatts in 2011, would have an additional capacity of 6,510 MW starting from 2012, SEC's Chairman Saleh Al-Awaji said in an e-mailed statement.
"The company will fund these projects through loans, issuing sukuk and from its own resources, in addition to other financing means," Al-Awaji said.
Power demand in the world's largest oil exporter is rising at 8 percent annually as the country pushes on with multi-billion dollar development plans to cater for its fast-rising population of 18 million locals.
SEC plans to invest $80 billion to boost capacity to at least 70,000 megawatts by 2020 from an installed capacity of 50,000 megawatts now.
The private sector would contribute through independent power producers (IPPs), investing $24 billion of the total $80 billion, Abdullah Al-Hussayen, Saudi minister of water and power, said in October.
SEC said it expected an additional 8,587 MW to come from private investors during the 2012-2016 period.
