Bahrain’s Al Dur Power and Water Company closed a $1.2bn refinancing facility for its 1.2GW and 48 MIGD (218,000 m3/d) power and desalination plant on 30 May. A consortium of France’s Engie, Gulf Investment Corporation, Japan’s Kyushu Electric Power Company (Kyuden), and Bahrain’s Social Insurance Organization own the project that started up in 2012.
According to a press release from Engie, “The new facilities allow the Company to refinance its existing project-level debt on terms reflecting the status of the project as an asset with no construction risk and a proven operating history.” (CONTINUED - 188 WORDS)