King Salman Park District Cooling

King Salman Park District Cooling - a District Cooling Concession in Saudi Arabia. Capacity 60,000 RT. Winning consortium: Saudi Tabreed (Green Park Cooling Co SPV). Status: Construction.

Country

Saudi Arabia

Procurer

King Salman Park Foundation (PIF)

City / region

Riyadh

Capacity

60,000 RT

Status

Construction

Tariff

Not publicly disclosed

Winning consortium

Saudi Tabreed (Green Park Cooling Co SPV) - equity: Tabreed UAE 40% / PIF 30% / SIRC 30% (parent-level)

Procurement timeline

• Preferred bidder: Q2 2023
• Commercial close: 3 Oct 2023
• Financial close: Feb 2024
• PCOD: Phase 1 (20k RT) with Park opening

Financing

• Debt: USD 60 M senior

Technical scope

Process: Centralised chilled-water + distribution

16 km² urban park (target world's largest). 20k RT Phase 1; 40k RT phased to 60k RT ultimate

EPC contractor: AtkinsRealis (SNC-Lavalin) - 27-month EPC Jun 2023

Sources

• Saudi Tabreed
• MEED finance

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Part of the GulfInfra · GCC Infrastructure Library - a free open-source benchmark of 136 public-private partnership procurements across the GCC. Methodology: how we build this.