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Middle East Power Deal of the Year 2011 : Qurayyah

The $2.795 multi-sourced financing for the 3.92MW gas-fired qurayyah Independent Power Project is notable for two reasons - pricing and cometitive bidding.

First, although the $179 million uncovered debt on Qurayyah is around half the size of the equivalent debt tranche on Shuweihat 3 (S3) - the other benchmark independent power deal in the region last year - the pricing came in significantly lower.  The connercial bank debt on S3 starts at 175 bp post - construction and ratcheting to 200bp over its construction - plus - 19.5 - year tenor.  Second, the ACWA Power - led bid for the project was equally as competitive on traiff, and ultimately wrong-footed the competition by enabling the grantor Saudi Electricitiy Company (SEC) to only have to ............







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Contact Information:

  • Qurayyah

  • KSA P.O. Box 31998, Khobar 31952

  • Tel : +966 13 8456795

  • Fax: +966 13 8456796

  • E-Mail: info(at)hajr.sa
  • Share Holders:

    Power by AP