FINANCIAL NEWS

MENA power sector investments hit USD8.7bn in 2016

14 Mar 2017

(MENAFN) M&A in the renewables sector jumped last year across the MENA region after a long period of slow activity, attracting USD8.7bn of investments.

Meanwhile, the Kuwait Fund for Arab Economic Development has coordinated a debt financing of USD115.5mn to launch a desalination plant in Egypt.

In addition, in the UAE, consortium of lenders involving Islamic Development Bank, Natixis, National Bank of Abu Dhabi and First Gulf Bank investing to build 800MW Solar PV Phase III.

Moreover, the UAE also saw new projects across coal, nuclear and solar funded by regional and Asian investors to help it raised renewable energy target from 24pct to 26pct.

MENAFN1403201700450000ID1095312291

MENAFN1403201700450000ID1095312291

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