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Asharq Al-Awsat

Business

Riyadh - Asharq Al-Awsat

PIF Secures Record-Breaking $17bn Senior Unsecured Term Loan

PIF ACWA Power Saudi Arabia Middle East America Asia Europe

An agreement to establish the largest solar photovoltaic plant in the Middle East, in Makkah, west Saudi Arabia (SPA)

Badeel has announced a partnership to establish the largest solar photovoltaic plant in the region, while Saudi Arabia’s Public Investment Fund (PIF) announced that it has secured a $17 billion seven-year senior unsecured term loan (63.7 billion Saudi riyals).

The loan is the largest-of-its-kind general corporate-purpose loan worldwide.

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