ADWEA closes financing for 1,177 MW solar project in Abu Dhabi (UAE)

http://bit.ly/2r4pVMj

News date: 
26/05/2017

The Abu Dhabi Water and Electricity Authority (ADWEA) has reached financial close for the 1,177 MW Sweihan solar PV project worth US$872m in Abu Dhabi. The group has raised US$650m in debt and will finance US$222m in equity.

The solar project – the largest in the world – will be built and operated by a consortium of ADWEA (60%), Marubeni and JinkoSolar (20% each) over a 25-year period. Construction will start immediately and the power plant should enter operation in the second quarter of 2019.

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