ACWA Power provides guarantee to SNB for Shuaibah’s $100 mln bridge loan

01/03/2023 Argaam
ACWA Power logo

ACWA Power logo

ACWA Power Co. announced providing a parent company guarantee to Saudi National Bank (SNB) for a $100 million equity bridge loan (EBL) provided to its subsidiary, Shuaibah Holding Co.

 

In a statement to Tadawul, the utility said the facility is related to Al Shuaibah 1 & Al Shuaibah 2 Solar PV IPP.

 

SNB is a related party to ACWA Power.

 

Additionally, this transaction is an indirect interest for Abdullah Al-Ruwais, a board member at ACWA Power and SNB.

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