Vigeo Eiris was commissioned to provide a second-party opinion on the sustainability credentials and management of Taweelah RO Desalination Company LLC’s Sustainable Loan
The $758 million project finance loan, closed in September 2019, will finance the design, construction, operation & maintenance of Taweelah RO Desalination Company’s 200 MIGD reserve osmosis plan with Natixis as the arranging bank
We assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the loan intended by Taweelah RO Desalination Company LLC. Vigeo Eiris is of the opinion that this loan is aligned with the four core components of the Green Loan Principles (2018) and expressed a moderate assurance on the contribution of this Loan to sustainable development. Vigeo Eiris has produced more than 260 second-party opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We were the 3rd biggest SPO provider in the market by number of deals in 2019 and are Climate Bonds Standard Approved Verifier.
Taweelah RO Desalination Company LLC is a project company created by ACWA POWER and other shareholders. ACWA Power is a Saudi Arabian company, a developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants.