Saudi Energy affiliate secures $2.58bln debt package for Rabigh 2 expansion

By Zawya

By Staff Writer

Saudi Energy affiliate Al Morjan Two Electricity Company has reached financial close for the Rabigh 2 CCGT IPP Expansion Project after securing SAR 9.69 billion ($2.58 billion) in debt financing.

Lenders include Dhabi Commercial Bank, Alinma Bank, Boubyan Bank, China Minsheng Banking Corp, Commercial Bank of Dubai , HSBC Bank Middle East Limited, Industrial and Commercial Bank of China, National Bank of Greece, Riyad Bank, Saudi Awwal Bank, Standard Chartered Bank (Taiwan), Sumitomo Mitsui Trust Bank, The Saudi National Bank.

The 34-year financing will fund the development of the 2,313.5-MW power plant in western Saudi Arabia.

(Writing by Ahmad Mousa; editing by Seban Scaria)
Ahmad.mousa@lseg.com

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