On the sidelines of the Future Investment Initiative ( FII9 ) in Riyadh, the Saudi Electricity Company ( SEC ) signed multiple strategic agreements with local and international financial and technology institutions.

SEC signed a US$3-billion international financing agreement with a consortium of banks including Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Agricultural Bank of China, Barclays Bank, China Construction Bank, China Guangfa Bank, China Minsheng Bank, Dubai Islamic Bank, Emirates NBD Bank, HSBC, Industrial and Commercial Bank of China, ING Bank, The Bank of East Asia, and China Merchants Bank.

The agreement will strengthen SEC’s liquidity position and broaden its global financing base to support large-scale projects in power generation, transmission, and distribution across the kingdom.

SEC also signed a US$1-billion export credit agency ( ECA ) framework agreement with Swiss Export Risk Insurance and Standard Chartered Bank to support its strategic initiatives through ECA-backed financing, with a focus on enhancing Saudi and Swiss content in project execution and improving the company’s capital efficiency.

The agreements aim to enhance the efficiency and sustainability of the kingdom’s power sector by diversifying funding sources, improving working capital efficiency, and accelerating the implementation of strategic electricity and infrastructure projects, in line with the kingdom’s Vision 2030 development goals.