19 Hrs
Source:
الاقتصادية
Source: الاقتصادية
19 Hrsالاقتصادية
Source: الاقتصادية
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Aqua Power announced the successful financial closing of the Rabigh Second Expansion Project for power generation with a combined cycle system, with a capacity of 2,313.5 MW. The project secured financing of SAR 9.69 billion over a period of 34 years, aimed at developing a gas plant for energy production. The funding involves a coalition of local, regional, and international banks and is scheduled to have its first financial impact in Q2 2029. The company also plans to distribute annual profits of at least 30% of net earnings, alongside investments in energy storage projects and green hydrogen exports to strengthen its position as a hub for producing and exporting clean fuel in Saudi Arabia.
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