| Element List | Explanation |
|---|---|
| Introduction | ACWA Power Company announces that Hajar Two Electricity Company, an affiliate of ACWA Power Company, has achieved financial close of the Qurayyah CCGT IPP Expansion Project located in the Eastern province of Saudi Arabia, with a production capacity of 3,010 MW. ACWA Power’s effective shareholding in the project is 40%. |
| Date of obtaining the funding | 2025-10-16 Corresponding to 1447-04-24 |
| Financing entity | The financing was secured by a group of local, regional, and international lenders. The lending group includes Abu Dhabi Commercial Bank, Ajman Bank, Alinma Bank, Arab National Bank, Banque Saudi Fransi, Boubyan Bank, Commercial Bank of Dubai, Eurobank, HSBC, National Bank of Kuwait, Riyad Bank, Saudi Awwal Bank, Standard Chartered Bank, Sumitomo Mitsui Trust Bank, The Korea Development Bank, The Saudi Investment Bank, and The Saudi National Bank. |
| Financing amount. | SAR 10.8 billion (USD 2.9 billion) |
| Financing duration. | Approximatively 28 years. |
| Guarantees offered for the financing | For ACWA Power Company, limited to its standby equity, and reserve account. |
| Financing objective | Develop, Build, Own and Operate a Combined Cycle Power Plant. |
| Related Parties | 1) Saudi Electricity Company “SEC” 2) Saudi National Bank |
