ACWA Power has secured $2.6 billion in financing agreements with a consortium of banks for the development of three large-scale photovoltaic solar projects in Saudi Arabia. These projects – Haden, Muwayh, and Al Khushaybi – located in Makkah and Qassim Province, have a combined production capacity of 5,500 megawatts. The consortium providing funding includes multiple international and local banks and the ownership of the projects is shared among ACWA Power, Badeel (a subsidiary of the Public Investment Fund), and Saudi Aramco Power Company. The financing will aid in the design, construction, and operation of the solar projects over a funding duration of 27.3 years.
Renewable Energy, Finance, Utilities,Saudi Arabia, Middle East
https://www.zawya.com/projects/utilities/acwa-power-secures-26bln-funding-for-3-large-scale-solar-projects-in-saudi-arabia-fv8p2y7h