Rabigh 1 IPP
Rabigh 1 IPP - a Independent Water & Power Project in Saudi Arabia. Capacity 1.2 GW. Winning consortium: ACWA Power + KEPCO. Status: Operational; refi 2017.
- Country
- Saudi Arabia
- Procurer
- SEC
- City / region
- Rabigh, Makkah
- Capacity
- 1.2 GW
- Status
- Operational; refi 2017
- Power tariff
- Not publicly disclosed
Winning consortium
ACWA Power + KEPCO - equity: SEC 50% / ACWA 40% / KEPCO 10%
Procurement timeline
- RFP: 2009
- Bid submission: 2009
- Preferred bidder: 2009
- Commercial close: 2009
- Financial close: 2009
- PCOD: Apr 2013
Financing
- Capex: ~USD 2.5 bn
- Debt: USD 1.825 bn refi (largest MENA IPP refi)
- Lenders: Int'l + Saudi + Islamic tranche
- Tenor: Long-tenor refi
Technical scope
Process: Oil-fired steam (HFO)
First Saudi IPP without sovereign guarantee
EPC contractor: Doosan Heavy
Sources
Open the full IWPP / IPP benchmark →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.