GDF Suez SA and its partners including Shikoku Electric Power Co and Sojitz Corp. completed $1.3bn in financing for the Barka 3 and Sohar 2 independent power projects in Oman.
The plants each will have a capacity of 744 megawatts when operational by April 2013, the companies said in a joint e- mailed statement on Monday. Total investment costs are $1.7bn, according to the statement.
Natixis, KFW IPEX-Bank GmbH, Credit Agricole SA, HSBC Holdings Plc, Bayerische Landesbank, Europe Arab Bank Plc, CIC and Standard Chartered Bank, and export credit providers Euler Hermes SA and KEXIM, arranged the facility.
The Oman Power and Water Procurement Co. will be the single offtaker. (Bloomberg)
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.