Marubeni and Aljomaih’s Financial Closing for Rabigh 300 MW Solar PV IPP

Bracewell LLP advised Marubeni Corporation and Aljomaih Energy & Water Company on the deal.

A consortium led by Japan’s Marubeni Corporation and the local Aljomaih Energy & Water Company has reached financial close for the 300MW Rabigh photovoltaic (PV) solar independent power producer (IPP) project in Saudi Arabia.

The project is one of the first renewables deals to include an export credit agency (ECA) soft mini-perm structure under committed financing, which has been combined with an Islamic facility tranche.

This is one of the first renewables deals to include ECA, through Japan Bank for International Cooperation (JBIC), soft mini-perm structure under its committed financing, combined with an Islamic facility tranche. 

Japan’s Mizuho Bank and the local Al Rajhi Banking and Investment Corporation are providing loans for the project.

The Bracewell team included Andrej Kormuth (Picture), Oliver Irwin , Tom Swarbrick, Benjamin Pridgeon, Ade Mosuro, Dina Elshurafa and Shayan Najib.


Involved fees earner: Dina Elshurafa – Bracewell; Oliver Irwin – Bracewell; Andrej Kormuth – Bracewell; Ade Mosuro – Bracewell; Shayan Najib – Bracewell; Benjamin Pridgeon – Bracewell; Tom Swarbrick – Bracewell;

Law Firms: Bracewell;

Clients: Marubeni Corporation;

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