Riyadh- Mubasher: Hassyan Energy, a joint venture between a consortium led by Saudi’s ACWA Power and Dubai Electricity and Water Authority (DEWA), has secured $2.47 billion of financing for the 2,400MW Hassyan clean coal project.
The total project investment amounts to $3.4 billion, where it will be financed through a combination of senior secured financing and a moderate - risk financing tranche.
Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, China Construction Bank, Silk Road Fund, First Gulf Bank, Union National Bank, Standard Chartered Bank, National Commercial Bank, Commercial Bank International and Emirates NBD were among those involved.
The first phase of the Hassyan clean coal project comprises four units of 600MW net power, with each to be operational consecutively in March 2020, March 2021, March 2022 and March 2023.
