Riyadh: A consortium of electricity companies led by Saudi Arabia’s ACWA Power has completed refinancing of more than $1.825 billion (Dh6.70 billion) in debt for its Rabigh 1 power project, ACWA Power said on Wednesday. The consortium, which includes state-run Saudi Electricity Company (SEC) and Korea Electric Power Corporation (KEPCO), runs the 1240MW fuel oil-fired plant on the western coast of Saudi Arabia. The refinancing consists of a conventional international tranche and two Islamic riyal-denominated parts, it said in a statement.
Saudi consortium closes $1.825b Rabigh 1 refinancing
Saudi 1240MW fuel-oil-fired power project refinanced; Consortium led by Saudi’s ACWA Power