Consortium of Marubeni and Jinko secure PPA forSwahain PV plant in UAE

A consortium consisting of Japan-based Marubeni Corporation and China-based Jinko Solar has secured a 25-year power purchase agreement to sell power generated from the 1,177 MW (DC) photovoltaic plant to the Abu Dhabi Water and Electricity Company (ADWEC), which is a subsidiary of the Abu Dhabi Water and Electricity Authority. The plant will be built at Swaihan in the UAE. The consortium will work alongside ADWEA through a jointly owned special purpose company to construct the plant. They will also operate and maintain the solar plant throughout the 25-year period. The project is likely to achieve financial closure in April 2017 and will start generating power in 2019.

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