Advertisement
24 March, 2019

Saudi-led consortium, DEWA complete financing for Dubai solar park

The project, called Noor Energy 1, was launched in a partnership between DEWA, ACWA Power and China’s Silk Road Fund

Image used for illustrative purpose. Men stand in front of solar panels at the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, November 28, 2015.

Image used for illustrative purpose. Men stand in front of solar panels at the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, November 28, 2015.

REUTERS/Stringer

DUBAI- Saudi Arabia's ACWA Power and Dubai Electricity and Water Authority (DEWA) said on Sunday they had completed the financing of a 950 megawatt concentrated solar power project in Dubai.

The companies did not disclose the size of the deal in Sunday's statement but sources told Reuters in January the financing would be more than $2 billion. 

The project, called Noor Energy 1, was launched in a partnership between DEWA, ACWA Power and China’s Silk Road Fund.

Advertisement

(Reporting by Asma Al Sharif, writing by Davide Barbuscia. Editing by Jane Merriman) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

More From Business