Fujairah F3 is a 2,400 MW natural gas-fired combined cycle power plant located in the Qidfa area of the Emirate of Fujairah. One of the UAE’s largest gas-fired generation assets, it supplies electricity equivalent to the needs of approximately 380,000 homes to Emirates Water and Electricity Company (EWEC) under a 25-year power purchase agreement. The project is owned by TAQA, Mubadala Investment Company, Marubeni Corporation and Hokuriku Electric Power Company.
The transaction comprised a c. USD 850 million short-term hard mini-perm facility, structured as a combination of conventional and Islamic tranches and raised from a club of eight regional and international financial institutions. It refinances the original ECA-supported facility put in place at financial close in 2020, transitioning the project to a fully commercial financing structure.
Successfully executing a transaction of this size on a short tenor, across two funding formats and a broad lender group, reflects the depth of liquidity available in the region for well-structured, contracted power assets, and the confidence of the market in the project’s fundamentals and its sponsors.
Synergy Consulting, Inc. remains committed to enabling transformative energy and infrastructure across the Middle East and beyond – supporting clients in structuring bankable, sustainable, and innovative solutions for the future.
We extend our sincere thanks to Infra Global for this recognition, and to all our stakeholders – including our clients, and the financing and private sector participants – for their ongoing trust and collaboration.
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