The Japan Bank for International Cooperation (JBIC) has signed a loan agreement totalling up to $1 billion in project financing for the Al Hidd Independent Water and Power Producer Project.

The loan agreement is with Hidd Power Company, a Bahrain-based corporation, and is co-financed with six financial institutions that include Mizuho Corporate Bank and Sumitomo Mitsui Banking Corporation.
Through this loan, JBIC is supporting Japanese companies looking to invest in the growing electric power and water markets in the Middle East. This is the first IWPP project that Japanese companies have undertaken in Bahrain and the first loan that JBIC has extended in project financing for a project in the region.
Under the project scheme, Hidd Power Company will purchase an existing power generation and desalination plant, from the Ministry of Electricity and Water. The Hidd Power Company will also construct a desalination plant to sell electric power and water to the Ministry of Electricity and Water for 20 years through the BOO (build-own-operate) scheme.