Middle East Economic Survey

VOL. LII

No 33

17-Aug-2009

SAUDI ARABIA

Banks Lining Up For Riyadh IPP, After Rabigh IPP Closes Financing

After the Saudi Electricity Company (SEC) closed the financing of its Rabigh independent power project (IPP), banks are starting to align themselves with the consortia that will be bidding on the companys next IPP (often known as PP11) in Riyadh. SEC signed the power purchase agreement (PPA) on 11 July with Rabigh Electricity Company, RABEC, which was formed between...