Acwa Power Finances Rabigh Expansion
Saudi Arabia's Acwa Power has announced the financial close of the expansion project for the second Rabigh Independent Power Plant in the Kingdom, with a financing cost of up to 9.69 billion Saudi riyals. The project is located in the western region and operates on a combined cycle system with a production capacity of 2,313.5 megawatts, with readiness to add a carbon capture unit. Financing was secured through a consortium of local and international lenders for up to 34 years, and its financial impact is expected to begin from the second quarter of 2029. Acwa Power's shares have declined by approximately 8% since the start of 2026, following a volatile performance during the first nine months of the year.
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