Abu Dhabi National Energy Company PJSC with JERA Co., Inc and AlBawani Capital have announced the successful financial closing of two greenfield power plants in the Kingdom of Saudi Arabia (KSA). The projects are Rihab ElAwal Power Company (Rumah 2) and Nawras Power Company (Al Nairyah 2). Financing was secured from a consortium of leading regional and international lenders through senior debt and equity bridge loans. Lending institutions include Al Rajhi Bank, Riyad Bank, Saudi Awwal Bank, Saudi National Bank, Arab Petroleum Investments Corporation, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Bank of China and First Abu Dhabi Bank. Engineering, Procurement, and Construction (EPC) contracts were awarded to Harbin Electric International Co. Ltd and China Tiesiju Civil Engineering Group Co. Ltd.
TAQA, JERA and AlBawani announce financial closing of the Rumah 2 and Al Nairyah 2 power plants
