- Companies
- Rabigh Arabian Water & Electricity Company
Rabigh Arabian Water & Electricity Company Revenue, Valuation, Funding & Investors
Rabigh Arabian Water & Electricity Company is valued at $1.3B as of June 2024, a 4.0x multiple on its last reported $311M revenue.
Last Rabigh Arabian Water & Electricity Company valuation
$1.3B
Secondary · Jun 2024
Rabigh Arabian Water & Electricity Company revenue
$311M
Secondary · Jun 2024
Key investors in Rabigh Arabian Water & Electricity Company
Hassana Investment Company (HIC)
About Rabigh Arabian Water & Electricity Company
Rabigh Arabian Water & Electricity Company delivers electricity, steam, and desalinated water utilities to the Rabigh Refining and Petrochemical Company joint venture between Saudi Aramco and Sumitomo Chemical in Saudi Arabia.
Founded
2005
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based
Revenue
$311M (Jun 2024)
Valuation
$1.3B (Jun 2024)
Sectors
Rabigh Arabian Water & Electricity Company Valuation
Rabigh Arabian Water & Electricity Company is currently valued at $1.3B, based on its secondary sale in June 2024.
The $225M round was led by Hassana Investment Company (HIC).
Rabigh Arabian Water & Electricity Company valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2024 | Secondary | $1.3B | 4.0x |
Rabigh Arabian Water & Electricity Company Revenue
Rabigh Arabian Water & Electricity Company's latest recorded revenue is $311M, as of its secondary sale in June 2024. At a $1.3B valuation, that implies a 4.0x revenue multiple.
Rabigh Arabian Water & Electricity Company revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2024 | $311M | $1.3B | 4.0x | Secondary |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Rabigh Arabian Water & Electricity Company Funding History
Rabigh Arabian Water & Electricity Company has 1 recorded secondary share sale and no primary funding rounds.
Rabigh Arabian Water & Electricity Company funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2024 | Secondary | Hassana Investment Company (HIC) (lead) | $225M | $1.3B | Rabigh Arabian Water & Electricity Company (RAWEC) is an Independent Water, Steam, and Power Producer (IWSPP) operating in Rabigh, Western Saudi Arabia. The facility has a capacity of 360 MW of power generation, approximately 30,000 tons per day of steam production, and 130 cubic meters per day of desalinated water capacity. RAWEC operates under a long-term offtake agreement with Petro Rabigh (Rabigh Refining & Petrochemical Company), which provides stable, contracted revenue. The company is a joint venture involving ACWA Power, Marubeni Corp, JGC Corporation, and Petro Rabigh. In June 2024, Hassana Investment Company, the investment arm of Saudi Arabia's General Organisation for Social Insurance (GOSI), acquired a 30% stake in RAWEC from ACWA Power for SAR 844 million (approximately $225 million USD). This transaction valued the full company at approximately $750 million USD (SAR 2.8 billion), based on the 30% stake acquisition price. ACWA Power retained the remaining 99% ownership prior to this sale and stated it would use proceeds for general corporate purposes. The transaction reflects ACWA Power's capital recycling strategy and marks the beginning of a long-term partnership between the two entities. For the full year ended December 31, 2023, RAWEC reported revenue of SAR 1,164.7 million, operating profit of SAR 595.7 million, and net profit of SAR 358.6 million. The company's total assets were valued at SAR 6,335.5 million at that time. The project's book value stood at SAR 731 million. These metrics demonstrate RAWEC's strong operational performance and attractive cash flow profile, which were cited by Hassana as key drivers for the investment decision aligned with its long-term infrastructure asset acquisition strategy. |
Who has invested in Rabigh Arabian Water & Electricity Company?
1 investor has backed Rabigh Arabian Water & Electricity Company across its funding rounds, including Hassana Investment Company (HIC).
Lead investors include Hassana Investment Company (HIC).
Rabigh Arabian Water & Electricity Company Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Start Free TrialRabigh Arabian Water & Electricity Company Competitors
Rabigh Arabian Water & Electricity Company competitors include listed companies like Copperbelt Energy, Naturenergie, Hunan Energy Group and Transcorp Power, and private ones like EGPE Solar and Energie Steiermark.
| Company | HQ | Status | Revenue | EBITDA | Valuation |
|---|---|---|---|---|---|
| Publicly listed | - | - | $1.3B | ||
| Publicly listed | $1.8B | $325M | $1.2B | ||
| Publicly listed | $52M | $25M | $1.3B | ||
| Publicly listed | $299M | $98M | $1.1B | ||
| Private | - | - | $2B | ||
| Private | - | - | $557M |
Rabigh Arabian Water & Electricity Company Public Comps
Rabigh Arabian Water & Electricity Company is still privately-owned, but its public comps include Grupo Cox, Birchcliff Energy, JoPetrol, Advantage Energy, Copperbelt Energy, Naturenergie, Thai Tap Water, Total Energies Marketing Maroc, Electricite De Strasbourg and CASAN.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | $218M | 4.2x | 2.4x | 25.3x | 12.1x | |||
| $521M | $278M | 3.2x | 2.9x | 5.9x | 4.8x | |||
| $2B | $225M | 1.2x | 1.0x | 11.2x | 12.9x | |||
| $506M | $257M | 3.6x | 3.2x | 7.1x | 5.6x | |||
| - | - | - | - | - | - | |||
| $1.8B | $325M | 0.7x | - | 3.8x | 5.0x | |||
| $157M | $121M | 8.3x | 8.1x | 10.7x | 9.8x | |||
| $1.6B | $173M | 0.8x | 0.6x | 7.0x | 6.6x | |||
This data is available for Pro users. Sign up to see all Rabigh Arabian Water & Electricity Company competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Rabigh Arabian Water & Electricity Company
| When was Rabigh Arabian Water & Electricity Company founded? | Rabigh Arabian Water & Electricity Company was founded in 2005. |
| Where is Rabigh Arabian Water & Electricity Company headquartered? | Rabigh Arabian Water & Electricity Company is headquartered in Rabigh, Saudi Arabia. |
| Is Rabigh Arabian Water & Electricity Company publicly listed? | No, Rabigh Arabian Water & Electricity Company is a private, VC-backed company. |
| What is Rabigh Arabian Water & Electricity Company's valuation? | Rabigh Arabian Water & Electricity Company was last valued at $1.3B in its secondary sale in June 2024. |
| Who are Rabigh Arabian Water & Electricity Company's investors? | Rabigh Arabian Water & Electricity Company's investors include Hassana Investment Company (HIC). |
| What is Rabigh Arabian Water & Electricity Company's revenue? | Rabigh Arabian Water & Electricity Company's latest recorded revenue is $311M (June 2024). |
| What is Rabigh Arabian Water & Electricity Company's revenue multiple? | Rabigh Arabian Water & Electricity Company's latest valuation implies a 4.0x revenue multiple ($1.3B valuation on $311M of revenue). |
| Which companies are comparable to Rabigh Arabian Water & Electricity Company? | Companies comparable to Rabigh Arabian Water & Electricity Company include Copperbelt Energy, Naturenergie, Hunan Energy Group, Transcorp Power, EGPE Solar and Energie Steiermark. |
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