{"id":87661,"date":"2023-12-25T00:00:00","date_gmt":"2023-12-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-project\/"},"modified":"2023-12-25T00:00:00","modified_gmt":"2023-12-25T00:00:00","slug":"taqa-hits-financial-close-on-aed-1-6-bn-desalination-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/25\/taqa-hits-financial-close-on-aed-1-6-bn-desalination-project\/","title":{"rendered":"TAQA hits financial close on AED 1.6 bn desalination project"},"content":{"rendered":"

The Shuweihat 4 Reverse Osmosis Seawater Desalination Project reached <\/strong>financial close<\/strong> with AED 1.6 bn (USD 444 mn) in funding on Friday, according to a press release<\/a>. The project is 60-40 owned by Abu Dhabi National Energy Company (TAQA)<\/a> and GS Inima<\/a>.<\/p>\n

Who\u2019s funding:<\/strong> Some 71% of the funding will come in the form of debt financing from local and international banks, including the Abu Dhabi Islamic Bank, Commercial Bank of Dubai, KfW IPEX-Bank GmbH, and the Export-Import Bank of Korea.<\/p>\n

About S4 RO: <\/strong>The project in the Shuweihat Power and Water Complex will supply up to 70 mn imperial gallons of potable water per day and is leased to the Emirates Water and Electricity Company (EWEC)<\/a> for a 30-year period. Commercial operations are scheduled to begin in 2Q 2026 and will be handled by TAQA and GS Inima.<\/p>\n

TAQA <\/strong>\u2764\ufe0f <\/strong>RO:<\/strong> This is TAQA\u2019s second utility-scale reverse osmosis project to reach financial closure this year, coming in after the Mirfa 2 Reverse Osmosis Desalination Plant (M2 RO), which closed in May<\/a> in partnership with France\u2019s Engie<\/a> and EWEC. The ADX-listed international energy and water company plans to up its water generation capacity to 1,250 MIGD by 2030.<\/p>\n

So does EWEC: <\/strong>The ADQ-owned Abu Dhabi water supplier has participated in six reverse osmosis projects to date and forecasts that 90% of its water production capacity will stem from RO technology by 2030, aligned with Abu Dhabi's clean energy targets and national net zero initiatives.<\/p>\n

ENTERPRISE EXPLAINS- Reverse osmosis. <\/strong>It\u2019s a process through which saline water is pushed through a semipermeable membrane, filtering out salts and impurities to produce fresh water. It\u2019s energy-intensive, primarily because it requires high pressure to overcome the natural osmotic pressure and force water through the membrane. How much energy you need goes up with the salinity of the water. RO is one of five commercially used desalination techniques.<\/p>\n","protected":false},"excerpt":{"rendered":"

71% of the funding is debt financing from local and international banks<\/p>\n","protected":false},"author":1,"featured_media":87662,"comment_status":"","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":[1630],"tags":[481,480,7,479,161,152],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infrastructure","tag-desalination","tag-emirates-water-and-electricity-company","tag-enterpriseam-uae","tag-gs-inima","tag-infrastructure","tag-taqa","wpautop","entry"],"acf":{"mongo_id":"a15df786-c7ec-4bdc-937b-c4dd023c9c7c","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/4199.jpg","photo_position":"below","homepage_title":"","full_issue_title":"TAQA hits financial close on AED 1.6 bn Shuweihat 4 desalination project in the UAE","related_issue":[87651],"teaser":"71% of the funding is debt financing from local and international banks","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.5e09585e-6561-4610-9e9f-c50ca1e91db1.mp3"},"yoast_head":"\nTAQA hits financial close on AED 1.6 bn desalination project - 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