RIYADH: Abu Dhabi-based renewable energy company Masdar and the UK’s EDF Energy plan to obtain a $700 million loan to refinance a $650 million credit facility obtained in 2017.

The financing will be made up of two tranches, a $250 million Islamic financing and a $450 million conventional loan, Al-Arabiya reported citing banking sources.

This is to be provided by a consortium of international banks and financing agencies, including Natixis, Islamic Development Bank, APICORP and Siemens Financial Services.

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