JinkoSolar, Marubeni Corp and the Abu Dhabi Water and Electricity Authority (ADWEA) have reached financial close on the 1177MW Sweihan solar project in Abu Dhabi.
Debt and equity deals totalling $870m have been finalised with local and international banks, JinkoSolar said.
The project, which is expected to reach commercial operation in April 2019, will supply electricity to ADWEA under a 25-year power purchase agreement.
ADWEA chairman Ali Musleh Al Ahbabi said: “Today’s financial closing is the culmination of 18 months of hard work, determination and commitment from many people, from multiple Abu Dhabi government stakeholders, the international PV investor market, the international and local lending community and related advisors.”
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