#financing

Among the most important operations financed from the resources are the maintenance, renewal and development of distribution facilities.

The total financing amount for each project is SAR5.69 billion ($1.52 billion), with a term of approximately 28.1 years.

Once finished, Hornsea 3 will be the world’s largest wind farm.

Tanzania, Dodoma: African Development Bank (AfDB) aims at improving hydropower capacity across the African continent, making it a key part of its energy policy.

Egypt, Cairo: Saudi developer ACWA Power has announced the signature of $123 M of funding to construct a 200 MW utility-scale solar power plant in Egypt.

South Africa: President Cyril Ramaphosa says Eskom will require at least $1.83 B (R33 B) to complete the commissioning at the Medupi and Kusile power plants.

Korea, Seoul: Korea Electric Power Corporation (KEPCO) has raised $3.84 B financing to complete the project to build a subsea transmission network in the UAE.

Portugal, Lisbon: The Government of Portugal made a pre-notification to Brussels of  deal for the sale of Efacec to DST Group about two months ago.

Saudi Arabia, Riyadh: The Saudi Electricity Company (SEC) has announced obtaining a $567.5 M credit facility.

The World Bank says that Nigeria will need about $100 B in the next 10 years to tackle the challenges in its energy sector.

Ghana, Accra: The Ghana Grid Company Limited (GRIDCo) says it will need $990.53 M to build a robust transmission system.

Romania: Distribuie Energie Electrică Romania S.A. (DEER) has secured a $102 M loan for grid modernisation, expansion, decarbonisation and digitalisation.

Bangladesh: The Asian Development Bank (ADB) has approved a $500 million loan for the development of an 800 MW power plant in Khulna, Bangladesh along with the associated power transmission facilities.

Luxembourg: The European Investment Bank (EIB) has signed a financing agreement worth $72 million to fund the development of energy projects in Jordan.