Qurayyah Independent Power Project

MENA Infrastructure Fund holds a 15% equity stake in the 4,000MW gas-fired Qurayyah Independent Power Project (IPP) currently being developed in Saudi Arabia in partnership with ACWA Power and Samsung C&T.

Financial Close occurred on 26 April 2012, with construction well underway. In June 2011, MENA Infrastructure Fund was part of the winning ACWA Power led consortium that was announced preferred bidder for the development of the project. The project will deliver almost 4,000 MW of electricity to Saudi Electricity Company (SEC) under a 20 year Power Purchase Agreement (PPA) commencing on 30 June 2014. Samsung C&T is the EPC contractor. The twelve gas turbines are provided by Siemens. When complete, Qurayyah IPP will be the largest combined cycle gas-fired power plant in the world.