The world’s best Islamic project finance deal 2025

Taiba & Qassim 2 power plants US$3.9 billion financing

The Taiba-2 and Qassim-2 combined-cycle power plants mark a significant milestone in Saudi Arabia’s energy transition, representing the first power projects in the Kingdom to include a dedicated carbon-capture provision. 

This innovation aligns closely with Vision 2030 and the Saudi Green Initiative, advancing the national objective of achieving a 50:50 energy mix between renewable sources and high-efficiency gas-fired plants while systematically phasing out liquid fuels. With a targeted annual reduction of up to 278 million tons of CO₂ emissions by 2030, the projects underscore the Kingdom’s commitment to a circular carbon economy.

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