TAQA-led group achieves financial close for 2 GW solar project in Abu Dhabi

The consortium led by Abu Dhabi National Energy Company (TAQA) has reached financial closure for the 2 GW Al Dhafra photovoltaic project in Abu Dhabi. …

TAQA’s partners in the project are the Abu Dhabi Future Energy Company, EDF Renewables and Jinko Power HK. Other than TAQA, which has a 40 per cent interest, the partners each hold 20 per cent stakes in Al Dhafra photovoltaic project. The shareholders group has obtained $ 1 billion in project financing from seven international lenders. The plant will be built on 20 square km of desert climate area, where more than 4 million photovoltaic modules utilising crystalline, bifacial solar technology will be installed. The project is expected to be completed in 2022. The annual output of the facility is estimated to meet the consumption of over 160,000 local households.

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