Financial arrangements have been concluded for the Rumah 1 and Nairyah 1 power projects. Located in Saudi Arabia, the facilities are currently under development by ACWA Power, Saudi Electricity Company (SEC) and Korea Electric Power (KEPCO).
Combined, the two combined cycle power projects are planned to reach a generation capacity of 3.6GW (1.8GW each). The total investment to bring these assets to life is calculated at US$4bn.
Funding was provided by a consortium of Saudi and international institutions, including the Bank of China, the Saudi National Bank, the Export Import Bank of Korea and more.
For more information, please visit EICDataStream.