Synergy Consulting, Inc.is excited to bring you valuable insights on King Salman Park District Cooling Project from Synergy Team members Rohit Pandey, Director, and Ravi Lakhlan, Associate.
Saudi Tabreed successfully Concluded the Financial Close for Riyadh’s King Salma Park (KSP) District Cooling Project.
Synergy Consulting was honored to act as the Lead and Financial Advisor to Saudi Tabreed on this Landmark Project.
The district cooling system, with an initial capacity (Phase 1) of 20,000 Tons of Refrigeration (TR) expandable to 60,000 TR, will deliver efficient cooling solutions for King Salman Park and its surrounding areas. This aligns seamlessly with the broader initiative, unveiled in 2019, aimed at augmenting Riyadh’s green spaces and fostering sustainable urban development.
The concession, signed last year between the King Salman Park Foundation, the off-taker, and Green Park Cooling Company (a 100% owned subsidiary of Saudi Tabreed) as the Project Company, spans a period of 25 years from the start of operations.
The plant is expected to be fully operational by March 2025. SNC Lavalin is selected by Saudi Tabreed as the Engineering and Procurement Construction (EPC) contractors for the Project, with Saudi Tabreed O&M Company (STOM) undertaking operations for the concession’s term.
The Financial Close involves a SAR 225 Million financing package for Phase 1. Riyad Bank is the Mandated Lead Arranger for senior debt for the Project.
Synergy Consulting, Inc. is the Financial and Lead Advisor on the Project for Saudi Tabreed, contributing to the achievement of Financial Close for the Project.
Read the full article here: https://lnkd.in/gYF-Ub-P
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