UAE Closes $872m Solar Plant Financing Deal
UAE Closes $872m Solar Plant Financing Deal

UAE Closes $872m Solar Plant Financing Deal

UAE Closes $872m Solar Plant Financing Deal

Abu Dhabi's government-owned power utility has closed a $872 million financing package for a solar power plant, which will be the world's largest, the utility's top official said on Wednesday. Abu Dhabi Water & Electricity Authority (ADWEA) raised $650 million in debt with the remaining $222 million raised in equity, Director General Saif Saleh al-Sayari told reporters, Reuters reported. ADWEA previously said it had selected a consortium of Japan's Marubeni Corp and China's JinkoSolar Holding to build and operate the 1,177 megawatt plant. The new plant, about 100 kilometers south-east of the capital, will have the capacity to power about 200,000 homes. It will be built, owned and operated by a special-purpose company, with Marubeni and Jinko each taking a 20% stake and ADWEA holding the remaining 60%. Abu Dhabi’s peak electricity generation passed 10 gigawatts for the first time five years ago. Only Saudi Arabia and Kuwait have peak electricity generations that are greater, according to ADWEA.

Short URL : https://goo.gl/CVYW7x
  1. https://goo.gl/vl12Tt
  • https://goo.gl/7iWouQ
  • https://goo.gl/yk8tiU
  • https://goo.gl/TujQ3m
  • https://goo.gl/XgYALz

You can also read ...

Iraq Oil Output Stable Amid Mass Protests
Iraq is pumping oil at normal levels even as protests spread...
Iran Oil Exports Could Shrink
Iran’s oil exports could fall by as much as two-thirds by the...
Treasury Secretary: US to Mull Iran Waivers
The United States in certain cases will consider waivers for...
EIA forecasts total US crude oil production to average 10.8 million bpd in 2018.
In the July 2018 update of its Short–Term Energy Outlook, the...
Completion of Petrochem  Projects High on Agenda
The completion of value chain, development of petrochemical...
LNG Share to Rise in Global Energy Mix
Liquefied natural gas is projected to come into sharp focus...

Add new comment

Read our comment policy before posting your viewpoints