Dammam-headquartered The Arab Petroleum Investments Corporation (APICORP) has signed a strategic five year Murabaha financing facility worth $75 million with Alfanar Company.
The deal was signed to support Alfanar’s renewables energy projects, including the wind project in Spain, the financial institution said in a statement.
“In this particular case, we are happy to support Alfanar towards their renewable energy projects globally,” Nicolas Thevenot, APICORP’s managing director, head of Corporate Finance, commented.
“This is in line with APICORP’s focus to support global sustainability through projects driven by environmentally conscious and renewable principles,” he added.
Baker & Mckenzie Bahrain acted as APICORP’s legal counsel on the financing and Hogan Lovells Dubai advised Alfanar.
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