Saudi Electricity  Company (5110.SE) has secured a financing agreement for SAR1,575mn for partially financing the capital expenditure needed for Shuqaiq Steam Power Plant project. The financing agreement was signed with Banco Santander and Credit Agricole. The term is for c.13 years  and guaranteed by Korea Trade Insurance Corporation, no collateral was included. On another note, SEC had called on qualifying companies to submit their offers for the 50MW of renewable energy bid in Al Jouf and Rafha, according to MEED magazine. The magazine added that the two plants would follow a Build Operate Transfer ‘BOT’ scheme,  where SEC is planning on signing a 25-year agreement with the winning bidder.  (Tadawul, MEED, Argaam)