Saudi Electricity (SEC) on 10 September kicked off marketing on an ‘International Green Sukuk’ through which the state power firm will raise funds for connecting renewables plants to the grid and for the installation of smart electricity meters.
SEC did not say how much money it expected to raise, but said the minimum subscription is $200,000. The return on the sukuk would, like the sum raised, be subject to market conditions with issuance slated to complete on 11 September. The sukuk will be listed on the Irish Stock Exchange. (CONTINUED - 283 WORDS)