The project involves the export of ten Siemens Model F5 gas turbines, 18 gas turbine and steam turbine generators, ancillary equipment and services developed by Siemens Energy at its plant in North Carolina, US.
The finance will be used to export the equipment for a combined cycle, gas-fired independent power plan with a capacity of 4,000MW located in Qurayyah, Saudi Arabia
The power plant is being built at an estimated cost of $2bn.
The borrower is Hajr for Electricity Production Company in Riyadh, Saudi Arabia.
The project will sell capacity and energy under a 20-year power purchase agreement with Saudi Electricity Company.
