Power risk matrix key to Soreq financing
- From: Vol 12, Issue 6 (June 2011)
- Category: General
- Region: Middle East
- Country: Israel
- Related Companies: Bank Hapoalim, Bank Leumi, Delek Group, European Investment Bank, Hutchison Water, IDE Technologies and Standard and Poor
The financing package for the world’s largest reverse osmosis project was finally signed off at the end of May. Plans for a co-located independent power plant gave the deal a unique risk profile.
The 510,000m3/d Soreq desalination project in Israel reached financial close at the end of May, after the developer consortium successfully negotiated $400 million of project debt with a trio of local and international lenders.
Israel’s two largest commercial banks – Bank Hapoalim and Bank Leumi – are putting up NIS600 million ($200 million) of the funding, with a further ...
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