{"id":103414,"date":"2025-12-28T00:00:00","date_gmt":"2025-12-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=103414"},"modified":"2025-12-28T04:16:42","modified_gmt":"2025-12-28T04:16:42","slug":"saudi-banks-power-ras-mohaisen-water-project-to-financial-close","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/12\/28\/saudi-banks-power-ras-mohaisen-water-project-to-financial-close\/","title":{"rendered":"Saudi banks power Ras Mohaisen water project to financial close"},"content":{"rendered":"

<\/strong>Local b<\/strong>anks are still doing the heavy lifting in financing our infrastructure <\/strong>pipeline:<\/strong> Acwa Power reached financial close on the Ras Mohaisen Independent Water Plant Project (IWPP), with a syndicate of primarily local banks providing SAR 2.07 bn (c. USD 553 mn) in long-term financing, the renewables giant said in a filing to the bourse<\/a> on Thursday.<\/p>\n

Who\u2019s in?<\/strong> Banque Saudi Fransi, Riyad Bank, and Saudi Investment Bank \u2014 alongside sole international lender Standard Chartered \u2014 signed off on the facility. The tenor is notably long at 29.5 years, matching the lifecycle of the plant and the 25-year water purchase agreement signed in February<\/a>.<\/p>\n

Meet the owners:<\/strong> Acwa holds a 45% stake, Haji Abdullah Alireza & Co 35%, and AlKifah Holding 20% through the project\u2019s development vehicle Ras Mohaisen First Water Desalination Company, Saudi Water Partnership Company said in a statement<\/a>.<\/p>\n

The asset:<\/strong> The plant is located on the Red Sea coast and will pump 300k cubic meters of potable water per day from sea level up the Sarawat Mountains into Al Baha and Makkah regions. The project will run on reverse osmosis technology and includes a captive 30 MW renewable energy unit to power operations.<\/p>\n

\n

What\u2019s next?<\/p>\n

With financing secured, the focus now shifts to the EPC contractors \u2014 Spain\u2019s <\/strong>Lantania and India\u2019s L&T<\/strong> \u2014 who bagged the USD 500 mn build contract in August<\/a>. The taps are set to turn on partially in 2028, with full capacity expected by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"

Banque Saudi Fransi, Riyad Bank, and Saudi Investment Bank, with Standard Chartered as the sole international lender<\/p>\n","protected":false},"author":1,"featured_media":103415,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2547],"tags":[448,77,589,10,66,74,1916,856,2588],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-103414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infrastructure","tag-acwa-power","tag-banque-saudi-fransi","tag-desalination","tag-enterpriseam-ksa","tag-infrastructure","tag-riyad-bank","tag-saudi-investment-bank-saib","tag-saudi-water-partnership-company","tag-standard-chartered","wpautop","entry"],"acf":{"mongo_id":"2a4f78ff-3352-46b8-b85c-a6541b6d6122","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2275.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa Power + partners lock in SAR 2.1 bn for Ras Mohaisen water project as local lenders shoulder the load","related_issue":[103407],"teaser":"Banque Saudi Fransi, Riyad Bank, and Saudi Investment Bank, with Standard Chartered as the sole international lender"},"yoast_head":"\nSaudi banks power Ras Mohaisen water project to financial close - 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