Acwa Power and its partners the Saudi Electricity Company (SEC) and Korea’s Kepco have secured SE12.8bn ($3.4bn) of financing for Saudi Arabia’s Rumah 1 and Nairyah 1 gas-fired CCGT plants. The two 1.8GW plants are due online in 2Q 2028 and are a key element of Saudi Arabia’s efforts to overhaul its existing thermal power plant system (MEES, 6 December 2024)
In a 31 July statement, Acwa says that the lending group “includes Export Import Bank of Korea (KEXIM), Saudi National Bank, Saudi Investment Bank, Banque Saudi Fransi, Standard Chartered Bank, Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and Arab Petroleum Investments Corporation.” (CONTINUED - 531 WORDS)
