There are 44 power and water projects in the GCC valued at $31.9 billion already underway or due to begin in 2012, said a report ahead of a major energy expo in Abu Dhabi.
The 'Power + Water Middle East exhibition and Leaders’ Forum
Moody's Investors Service has affirmed a provisional (P) A3 rating to the 3.5 billion ringgit ($1.1 billion) Islamic bond programme of Abu Dhabi National Energy Company (Taqa) with a stable outlook.
Moody's in a statement said the
Abu Dhabi Water and Electricity Authority (Adwea) has picked HSBC to advise on the $2.2 billion refinancing of its Shuweihat 2 loan and plans to issue a bond, in a first for a Gulf power project, bankers involved said.
Pitching for the bo
Abu Dhabi National Energy Company (Taqa) could spend $272.3 million to buy a 90-per cent stake in a water and power plant owned by the emirate's utility, an executive said in remarks published on Saturday.
Taqa 'plans to buy' A
The financing for the $3.2 billion Shuweihat 2 power project in Abu Dhabi is expected to be closed by mid-July, with six banks to commit to the remaining $1.1 billion commercial loan, said a report.
Each bank will make an investment of abo