ACWA Power, Aramco Consortium Obtains $600 Mln Financing For Saudi Largest Solar Project: CNBC Arabia – EQ Mag Pro
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Aramco has joined the deal by taking a 30% equity stake alongside ACWA Power and Badeel, a Public Investment Company.
A Saudi man walks on a street past a field of solar panels at the King Abdulaziz city of Sciences and Technology, Al-Oyeynah Research Station.
RIYADH : 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.
Source: zawya
