Saudi Arabia's ACWA Power has announced the financial closure of the Al Shuaibah PV 1 (600 MW) and Al Shuaibah PV 2 (2031 MW) solar projects, located in Al Shuaibah, in the Saudi Arabian province of Makkah. The projects have a total investment of USD$2.37bn including USD$1.63bn of senior debt (comprising USD$450m from the National Development Fund on behalf of the National Infrastructure Fund and USD$1.18bn from a banking consortium composed by the Bank Saudi Fransi, First Abu Dhabi Bank, Mizuho Bank, Riyad Bank, Saudi National Bank, Saudi Investment Bank and Standard Chartered Bank). The project is jointly owned by ACWA Power (35.01%), Badeel (34.99%) and SAPCO (30%), while Saudi Power Procurement Company (SPPC) is the procurer and offtaker of the projects, which are expected to start operations in 2025.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.