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FINANCIAL NEWS
Abu Dhabi plans to finish USD872mn solar plant financing
06 Mar 2017
(MENAFN) Abu Dhabi’s government-owned power utility plans to close a financing package for USD872mn solar power plant, which will be the world’s largest, in April.
Abu Dhabi Water & Elect Authority proclaimed that it had selected a consortium of Japan’s Marubeni Corp and China’s JinkoSolar to build the 1.177MW plant.
Moreover, the project is ADWEA’s first foray into renewable energy, while the country aims to produce 7 percent of its energy from renewable by 2020.
In addition, the plant will become operational in 2019; will be funded 25 percent by equity and 75 percent by debt.
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MENAFN0603201700450000ID1095291743
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