Rabigh 2 expansion reaches $2.58bn financial close
The 2,313.5 MW Rabigh 2 combined-cycle gas project has secured financing for its expansion in Saudi Arabia.
- Publish date: 2026-10-05
- Category: EPC Contractors
- Original source: MEED
- Reading time: 1 min
Financing for new generation
MEED reported on 5 October that Al Morjan Two Electricity Company reached financial close for the Rabigh 2 independent power project expansion. The financing package is reported at $2.58 billion.
Capacity addition
The combined-cycle gas turbine expansion is expected to add about 2.3 GW of generation capacity. The close marks a financing milestone; the report does not describe the plant as operational.