ACWA Power Completes Refinancing of Rabigh 3 Desalination Plant, Strengthening Saudi Arabia’s Sustainable Infrastructure Goals

ACWA Power has successfully completed the refinancing of its Rabigh 3 Independent Water Project, marking a milestone with the issuance of its first-ever blue bond. The transaction attracted participation from leading global and regional investors, including KKR, Barings, and Riyadh Bank.

The 600,000 m³/day desalination plant, which serves the Makkah region, continues to maintain availability above 99%, reinforcing its role as a critical asset in Saudi Arabia’s water security infrastructure.

The refinancing introduces a diversified, long-term financing structure designed to strengthen the project’s resilience. The deal aligns with IFC Blue Finance Guidelines and supports the Kingdom’s Vision 2030 infrastructure objectives.

This landmark transaction underscores ACWA Power’s commitment to innovative and sustainable infrastructure financing, as well as its focus on responsible environmental stewardship.