HomeArticlesFinancing secured for Phase 5 of Mohammed bin Rashid Al Maktoum Solar Park

Financing secured for Phase 5 of Mohammed bin Rashid Al Maktoum Solar Park

10/6/2020

Financing secured for Phase 5 of Mohammed bin Rashid Al Maktoum Solar Park On 4 October 2020, the Arab Petroleum Investments Corporation (APICORP), multilateral development financial institution, signed an agreement with Shuaa Energy 3 P.S.C sponsored by Dubai Electricity and Water Authority (“DEWA”), ACWA Power and Gulf Investment Corporation, to provide US$70.5 million in financing for the fifth phase of development of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, United Arab Emirates (UAE). This concludes the financing required for the $564 million project. Other project backers are Abu Dhabi Islamic Bank, Industrial and Commercial Bank of China, Emirates NBD Bank, Natixis, SAMB

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