State utility Saudi Electricity Company (SEC) has recently secured two revolving credit facilities worth a combined SR7.75bn ($2.07bn). This comes as both SEC and other Saudi state firms are having to adapt to lower revenues by tapping external funding sources for capacity expansions. Recent sharp rises in the price SEC pays for generation fuels put additional pressure on its already constrained finances.
The latest fundraising efforts will help fund a capital investment program including the completion of power plants with a combined 7GW of capacity during 2016-18. (CONTINUED - 770 WORDS)