| Element List | Explanation |
|---|---|
| Introduction | ACWA Power Company announces completion of the financial close for five large-scale PV solar plants, namely Afif1, Afif2, Humaij, Bisha and Khulis, located in the central, western, and southern regions of Saudi Arabia, with production capacities of 2,000MW, 2,000MW, 3,000MW, 3,000MW and 2,000MW of solar PV renewable power, respectively. Afif One Renewable Energy Company, Afif Two Renewable Energy Company, Humaij One Renewable Energy Company, Bisha One Renewable Energy Company, and Khulis One Renewable Energy Company are the respective counterparties for the financing agreements, where ACWA Power’s effective shareholding in each is 35.1% while Badeel, and Saudi Aramco Power Company own 34.9% and 30%, respectively. |
| Date of obtaining the funding | 2025-11-27 Corresponding to 1447-06-06 |
| Financing entity | A consortium of local, regional and international banks including Ajman Bank, Al Masraf, Alinma Bank, Arab National Bank, China Construction Bank, China Minsheng Bank, Emirates NBD, Eurobank, First Abu Dhabi Bank, HSBC, Industrial and Commercial Bank of China, KfW Development Bank, Mizuho, Piraeus Bank, Saudi Awwal Bank, Saudi National Bank, Standard Chartered Bank, and Sumitomo Mitsui Trust Bank. |
| Financing amount. | SAR 16.9 billion (USD 4.5 billion) |
| Financing duration. | Approximately 27 years |
| Guarantees offered for the financing | For ACWA Power, limited to its standby equity. |
| Financing objective | Development, design, construction and operation of five solar PV power plants |
| Related Parties | Badeel, a wholly owned company of the Public Investment Fund and the Saudi National Bank (SNB) |
