{"id":104721,"date":"2025-06-18T00:00:00","date_gmt":"2025-06-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/koreas-kexim-backs-masdar-led-saudi-solar-project-with-usd-255-mn-loan\/"},"modified":"2025-06-18T00:00:00","modified_gmt":"2025-06-18T00:00:00","slug":"koreas-kexim-backs-masdar-led-saudi-solar-project-with-usd-255-mn-loan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/06\/18\/koreas-kexim-backs-masdar-led-saudi-solar-project-with-usd-255-mn-loan\/","title":{"rendered":"Korea\u2019s Kexim backs Masdar-led Saudi solar project with USD 255 mn loan"},"content":{"rendered":"

K<\/strong>orea<\/strong>n backing for Masdar-led solar megaproject in Saudi: <\/strong>A consortium led by state-owned renewables giant Masdar \u2014 including Korea Electric Power Corporation (Kepco) and China\u2019s GD Power \u2014 lined up USD 225 mn in financing from Korea Eximbank (Kexim) to develop the 2 GW Al Sadawi solar project in Saudi Arabia, the Korean Herald<\/a> reports, citing a statement by the lender. The terms of the credit facility were not disclosed. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Project profile:<\/strong> The plant is due to go live in 2027, at which point the Saudi Power Procurement Company will buy all of its output under a 25-year power purchase agreement<\/a>. The unit, which covers roughly 39.6 square km with 3.7 mn solar modules, is expected to produce 6.5k GWh of electricity per year.<\/p>\n

REMEMBER- <\/strong>Earlier this year, Masdar, Kepco, and GD Power were said to be forming a JV<\/a> to build out the plant with a USD 1.1 bn investment. While the exact ownership structure of the JV was not disclosed, GD Power was set to hold 40% of it. <\/p>\n

IN CONTEXT-<\/strong> The fresh capital injection comes less than a year after the Korean bank pledged USD 150 mn in financing for a solar project in the UAE<\/a>, co-developed by Korea Western Power and France\u2019s EDF Renewables.<\/p>\n","protected":false},"excerpt":{"rendered":"

The plant is due to go live in 2027<\/p>\n","protected":false},"author":1,"featured_media":104722,"comment_status":"","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":[1546],"tags":[68,7,171,211,118,406],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-104721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam-uae","tag-masdar","tag-renewables","tag-saudi-arabia","tag-solar-energy","wpautop","entry"],"acf":{"mongo_id":"3b632bb7-4df3-4a0b-a4b9-8aa2070a27be","order":"12","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/6\/960.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Korea\u2019s Kexim backs Masdar-led Saudi solar project with USD 255 mn loan","related_issue":[104699],"teaser":"The plant is due to go live in 2027","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.bd44f4c8-c468-47fe-9d1b-1dfe6193bcad.mp3"},"yoast_head":"\nKorea\u2019s Kexim backs Masdar-led Saudi solar project with USD 255 mn loan - 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