ADWEA Raises USD 872 mn for Solar Power Plant

Sunday, 28th May 2017

The Abu Dhabi Water and Electricity Authority (ADWEA) closes a financing package worth USD 872 mn for a 1,177 megawatt solar power plant, Reuters reports.

The Abu Dhabi’s government-owned power utility raised USD 650 mn in debt, in addition to equity worth USD 222 mn to finance the project, Director General Saif Saleh Al-Seiari says.

ADWEA chose a joint alliance of Japan’s Marubeni Corp. and China’s JinkoSolar Holding for building and operating the plant.

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