Arab News, Thursday, Aug 26, 2021 | Muharram 18, 1443
ACWA Power, Aramco consortium obtains $600m financing for Saudi largest solar project: CNBC Arabia
Saudi Arabia:
A consortium of ACWA Power,
Saudi Aramco, and PIF-owned Badeel, will obtain financing for the 1.5GW
Al-Sudair solar scheme of $600 million at 110 basis points (bp) with fees at
150bp, a banking source told CNBC Arabia.
Aramco has joined the deal by taking a 30 percent
equity stake alongside ACWA Power and Badeel, a Public Investment Company.
A document seen by CNBC Arabia showed that 27
percent of the cost being funded through an equity bridge loan.
PIF declined to comment, while Acwa didn't respond
to emails requesting comments.