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FINANCIAL NEWS
Dubai’s ACWA Power, DEWA sign power purchase agreement
29 Mar 2015
(MENAFN) An ACWA Power and TSK syndicate signed a twenty-five year power purchase agreement (PPA) with Dubai Electricity and Water Authority (DEWA), Saudi Gazette reported.
Under the PPA, a sum is set to be invested for the 260 MWp solar photo-voltaic (PV) independent power project (IPP) under Phase II of the Middle East’s largest renewable energy park viz.
“We are very excited that our first project in the UAE is a partnership with DEWA for such a pace setting project of a global scale which also is the foundation of DEWA’s vision to develop a green economy in Dubai,” The President and CEO of ACWA Power said.
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