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ACWA Power Co. announced providing a parent company guarantee to Saudi National Bank (SNB) for a $100 million equity bridge loan (EBL) provided to its subsidiary, Shuaibah Holding Co.
In a statement to Tadawul, the utility said the facility is related to Al Shuaibah 1 & Al Shuaibah 2 Solar PV IPP.
SNB is a related party to ACWA Power.
Additionally, this transaction is an indirect interest for Abdullah Al-Ruwais, a board member at ACWA Power and SNB.
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