$𝟕𝟐𝟎𝐦𝐧 𝐑𝐞𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐬 𝐎𝐦𝐚𝐧’𝐬 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞

Sohar International Bank and National Bank of Oman (NBO) have jointly led a $720 million syndicated refinancing facility for Phoenix Power Company, reinforcing the financial foundation of one of Oman’s major power generation assets.

The financing follows the 15-year extension of Phoenix Power’s Power Purchase Agreement (PPA) with Nama Power and Water Procurement Company. The extended agreement provides a long-term framework for the plant’s continued operations, while the refinancing supports its financial requirements.

The transaction highlights the growing role of Oman’s banking sector in financing strategic infrastructure and energy assets. Phoenix Power’s facility is an important part of the country’s electricity network, contributing to reliable power supply and overall energy security