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ACWA POWER Co. announces the signing of the financing documents for the 818,280 m3/day (180 Million Imperial Gallon per Day MIGD) Hassyan IWP plant in United Arab Emirates.
| Element List | Explanation |
|---|---|
| Introduction | ACWA POWER Co. announces the signing of the financing documents for the 818,280 m3/day (180 Million Imperial Gallon per Day MIGD) Hassyan IWP plant in Dubai, United Arab Emirates The total investment cost is SAR 3,448,586,597 (USD 919,623,093). ACWA Power effective shareholding in the project company is 20.40% The project company Hassyan Water Company A PSC” signs the financing agreements. |
| Date of obtaining the funding | 2024-02-28 Corresponding to 1445-08-18 |
| Financing entity | A mix of local and international commercial lenders (Standard Chartered bank, MUFG BANK, LTD, Emirates NBD Bank, Korea Development Bank, Commercial Bank of Dubai, Abu Dhabi Commercial Bank, China Construction Bank, Agricultural Bank of China, Arab Petroleum Investments Corporation, Sumitomo Mitsui Trust Bank, Industrial and Commercial Bank Of China Limited, Boubyan Bank, and export credit agency (Saudi EXIM)). |
| Financing amount. | SAR 2,767,393,484 (USD 737,971,596) |
| Financing duration. | Approximately 32.5 years. |
| Guarantees offered for the financing | For ACWA Power, limited to its equity bridge loan, early generation revenue amounts, standby equity and reserve account. |
| Financing objective | Fund the development and construction and operation of 818,280 m3/day (180 Million Imperial Gallon per Day MIGD) Hassyan Desalination Plant in Dubai, UAE. |
| Related Parties | None. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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