Shuaibah IWPP is a 900 MW power and 194 MIGD water desalination plant located in the Kingdom of Saudi Arabia. The Shuaibah IWPP was pivotal in the country’s energy strategy as it was the first IWPP developed following the Saudi government’s decision to open the market to private investment. The facility delivers water and electricity to a wide region including the cities of Makkah, Jeddah, Taif and Al-Baha. The plant started operating in Q1 2010.The objective of the refinancing of the existing senior facilities denominated in USD and SAR was, for Shuaibah Water and Electricity Company (“SWEC”), to use the proceeds for varied financial commitments including the prepayment of its existing senior debt facilities, financing expenses and for tax purposes.The refinancing takes place in the context of the conversion of the existing plant into a new greenfield energy-efficient Sea Water Reverse Osmosis (SWRO) desalination plant undertaken by a JV between ACWA Power and Water and Electricity Holding Company. Shuaibah 3 IWPP will continue to exist until the decommissioning is complete. However, this restructuring necessitated refinancing of the existing USD and SAR senior debt facilities.