Saudi Electricity Co signs $900 mln KEXIM-backed loan for Shuqaiq plant
- Saudi Electricity Co SEC signed a $900 million loan agreement with the Export-Import Bank of Korea KEXIM and other international lenders to help finance Shuqaiq power plant's construction, the utility said on Sunday.
The facility has a 13.25-year lifespan and is guaranteed by KEXIM. Bank of Tokyo-Mitsubishi, Deutsche Bank and Santander are among the lenders providing funding, the bourse statement said.
State-controlled SEC, the largest utility company in Saudi Arabia, has previously said that it expects the total cost of the project to be $3.2 billion.
It signed a contract in 2013 with South Korea's Hyundai Heavy Industries Co. Ltd. to build the 2,640 megawatt Shuqaiq power plant in southwestern Jizan province.
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SaskPower eyes buying $300M worth of electricity from Flying Dust First Nation
REGINA - An agreement signed between SaskPower and Flying Dust First Nation is an important step toward a plan that could see the utility buy $300 million worth of electricity from Flying Dust First Nation, according to Flying Dust's chief.
"There's still a lot of groundwork that needs to be done before we get building but you know we're a lot closer today with this signing," Jeremy Norman told reporters Friday.
Norman's community was assisted by the First Nations Power Authority (FNPA), a non-profit that helps First Nations get into the power sector.
The agreement signed Friday says SaskPower will explore the possibility of buying 20…
