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22/10/2025 01:40 AST
Leading global utility project developer Acwa Power has announced that one of its key affiliates - Hajar Two Electricity Company - has achieved a SAR10.8 billion ($2.9 billion) financial close for the Qurayyah CCGT IPP Expansion Project located in the Eastern Province of Saudi Arabia.
Once operational, the combined cycle power plant will boast a production capacity of 3,010MW, said Acwa Power in its filing to Saudi bourse Tadawul.
A major player in the region, Acwa Power's effective shareholding in the project is 40%. Its scope of work work includes development, construction, owning and operation of a combined cycle gas turbine (CCGT) facility.
The 28-year funding was secured by a group of local, regional, and international lenders. These include Abu Dhabi Commercial Bank; Ajman Bank; Alinma Bank; Arab National Bank; Banque Saudi Fransi; Boubyan Bank; Commercial Bank of Dubai; Eurobank; HSBC: National Bank of Kuwait; Riyad Bank; Saudi Awwal Bank; Standard Chartered Bank; Sumitomo Mitsui Trust Bank; The Korea Development Bank; The Saudi Investment Bank and The Saudi National Bank.
Trade Arabia
02/12/2025
Acwa Power, the world's largest private water desalination company, has announced that along with its key partners - Water and Electricity Holding Company (Badeel), a wholly-owned company of Saudi we
Trade Arabia
04/11/2025
Saudi Arabia's Public Investment Fund and ACWA Power have signed a memorandum of understanding to explore opportunities for developing energy and water infrastructure projects for PIF's local real es
Arab News
30/10/2025
Saudi utilities giant ACWA Power plans to forge strategic partnerships and secure major financing to support its sustainability goals and strengthen Saudi Arabia's position as a global leader in clea
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TAQA | 3.38 | 0.01 (0.29 |
| DEWA | 2.73 | 0.05 (1.86 |
| SAUDIELECTRICITY | 14.05 | -0.06 (-0.43 |
| EMPOWER | 1.56 | 0.01 (0.64 |
| MARAFIQ | 37.06 | -0.60 (-1.60 |
02/12/2025
Gulf Bank has been named the Best Use of Social Media in Kuwait for 2025 by the global publication World Finance. This recognition reflects the bank's continued leadership in digital communication an
Kuwait Times
02/12/2025
Oman Arab Bank (OAB) on Monday announced the signing of a financing agreement with United Solar Polysilicon to support the establishment of a state-of-the-art polysilicon manufacturing facility in So
Muscat Daily
02/12/2025
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has been honoured with the 'Excellence in Safety' Award by the Lifting Equipment Engineers Association (LEEA) during its a
Trade Arabia
02/12/2025
Kuwait-based Combined Group Contracting (CGC) has announced that it has been awarded two key projects worth KD59.7 million ($194 million) by Kuwait Oil Company (KOC) at its refinery facilities in in
Trade Arabia
02/12/2025
QNB Group has been recognised as Qatar's Best Cash Management Bank 2025 by Euromoney, during the Transaction Banking Awards ceremony held recently in London.
This prestigious recognition ref
The Peninsula
Financial Information Co.
Saudi Arabia