FINANCIAL NEWS

Abu Dhabi-Masdar aims to raise USD800mn for solar project

28 Jun 2016

(MENAFN) Abu Dhabi’s Masdar plans to raise an USD800mn loan in order to help fund the building of the 800 MW third phase of Dubai’s solar park.

Additionally, the group also involves Spanish firms Fotowatio Renewable Ventures and Gransolar Group to finish the third phase of Sheikh Mohammed Solar Park.

Furthermore, Masdar-led consortium confirmed the lowest generation price in order to build the plant at 2.99 cents per kilowatt-hour.

The plant will be the largest single-site solar park in the world, generating 5,000 MW by 2030 with whole investment of USD13.6bn.

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