(MENAFN) A banking informative said to CNBC Arabia, an association of ACWA Power, Saudi Aramco, and PIF-owned Badeel, will get hold of financing for the 1.5GW Al-Sudair solar scheme of USD600 million at 110 basis points (bp) with fees at 150bp.
Aramco has entered the agreement by getting a 30 percent equity stake along with ACWA Power and Badeel, a Public Investment Company.
27 percent of the expenditure is funded by an equity bridge loan, a report checked by CNBC Arabia illustrated.
PIF refused to give comments, whereas Acwa did not answer to emails asking for commentary on the subject.
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