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| Sector | Industry |
Power and Utilities |
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Contact Details
Address:
Borj Al Faisaliah Building
Floor 22 King Fahed Road P.O. Box 22955 Riyadh 11416 Saudi Arabia Tel: +966 1-461-9030 +966 1-461-9009 Fax: +966 1-403-2222 Email:
informus@se.com.sa
Website:
www.se.com.sa Sukuk Details
Sukuk Name:
Saudi Electricity Company Sukuk
Type of Structure:
Ijarah
Issue Size (mil):
SAR 5,000.00
Oversubscription:
3 x
Sukuk Name:
Saudi Electricity Company Sukuk III
Type of Structure:
Al-Istithmar
Issue Size (mil):
SAR 7,000.00
Oversubscription:
3.57 x
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Business Overview
SEC was established in December 1999 as a result of consolidating all 10 regional electricity companies (SCECOs) and other electricity projects of the Saudi General Electricity Authority. In the kingdom, SEC has a monopoly to undertake electricity generation, transmission and distribution as well as exporting and importing energy, investing in power projects - in KSA and abroad - and conducting research and development (R&D).
The creation of SEC has opened the door to private sector construction of new power plants on BOO and BOT bases. In 2003, SEC supplied power to over 4 million customers from its installed capacity of over 28 GW that made it the second biggest electricity concern in the region after Iran's Tavanir. To meet growing electricity demand, SEC projected that it will need to invest over SAR2.9 billion between the 2006-2010 period (SAR1.29 billion to generate 6,100 megawatts and SAR1.62 billion for 1,090 kilometers transmission lines).
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