{"id":82570,"date":"2024-02-22T00:00:00","date_gmt":"2024-02-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/02\/22\/dewa-and-masdar-reach-financial-close-for-sixth-phase-of-mbr-solar-park\/"},"modified":"2024-02-22T00:00:00","modified_gmt":"2024-02-22T00:00:00","slug":"dewa-and-masdar-reach-financial-close-for-sixth-phase-of-mbr-solar-park","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/02\/22\/dewa-and-masdar-reach-financial-close-for-sixth-phase-of-mbr-solar-park\/","title":{"rendered":"Dewa and Masdar reach financial close for sixth phase of MBR solar park"},"content":{"rendered":"

Dewa, Masdar securing funding for sixth phase of MBR: <\/strong>Dubai Electricity and Water Authority (Dewa) and UAE\u2019s state owned renewables giant Masdar have reached financial close on the 1.8 GW sixth phase<\/a> of the Mohammed bin Rashid Al Maktoum (MBR) Solar Park, according to a statement<\/a>. The sixth phase will see the total production output increase to 4.66 GW by 2026 \u2014 up from the previously reported 4.2 GW<\/a> \u2014 the statement added. <\/p>\n

The project:<\/strong> Dewa established a JV with Masdar for the plant \u2014 dubbed Shuaa Energy 4 \u2014 with the former holding 60% of the company, allocating some AED 5.5 bn to establish PV panels under an independent power producer (IPP) model. The project \u2014 which will be constructed<\/a> by India\u2019s Larsen & Toubro\u2019s (L&T) construction arm \u2014 is expected to kick off operations in phases between 4Q 2024 and 2026. It\u2019s expected to provide clean energy for approximately 540k households and offset about 2.36 mn tons of carbon emissions annually. <\/p>\n

REFRESHER- <\/strong>Dewa tapped Masdar<\/a> as the preferred bidder for the project back in August, and the developer is to allocate some AED 5.5 bn (c. USD 1.5 bn) toward establishing PV panels across the 20 sq km project under a Independent Power Producer (IPP) model. The sixth phase will provide clean energy for approximately 540k households and is expected to offset about 2.36 mn tons of carbon emissions annually. <\/p>\n

Who\u2019s throwing their hats in the ring? <\/strong>The lending group to the project includes Abu Dhabi Commercial Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, HSBC, Standard Chartered Bank, Abu Dhabi Islamic Bank, and Warba Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"

The sixth phase will provide clean energy for approximately 540k residences and slash 2.36 mn tonnes of carbon emissions annually<\/p>\n","protected":false},"author":1,"featured_media":82571,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[171],"tags":[11,160,88,94,42,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar","tag-enterpriseclimate","tag-masdar","tag-renewables","tag-solar","tag-solar-energy","tag-uae","wpautop","entry"],"acf":{"mongo_id":"bb053132-24a2-4886-a66e-5d8a34ba2785","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1435.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dewa and Masdar reach financial close for sixth phase of MBR solar park","related_issue":[82563],"teaser":"The sixth phase will provide clean energy for approximately 540k residences and slash 2.36 mn tonnes of carbon emissions annually","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.41502f59-f3fc-4239-8d29-61f7acd0b8ba.mp3"},"yoast_head":"\nDewa and Masdar reach financial close for sixth phase of MBR solar park - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/22\/dewa-and-masdar-reach-financial-close-for-sixth-phase-of-mbr-solar-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dewa and Masdar reach financial close for sixth phase of MBR solar park\" \/>\n<meta property=\"og:description\" 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