{"id":89307,"date":"2024-02-22T00:00:00","date_gmt":"2024-02-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dewa-and-masdar-reach-financial-close-for-sixth-phase-of-mbr-pv-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-pv-park","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/22\/dewa-and-masdar-reach-financial-close-for-sixth-phase-of-mbr-pv-park\/","title":{"rendered":"Dewa and Masdar reach financial close for sixth phase of MBR PV park"},"content":{"rendered":"

Dewa, Masdar secure AED 5.5 bn for sixth phase of UAE\u2019s Al Maktoum solar park:<\/strong>Dubai\u2019s Electricity and Water and 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 Solar Park in Dubai, 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

Where the money will come from: <\/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

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","protected":false},"excerpt":{"rendered":"

The companies are getting AED 5.5 bn for the 1.8 GW phase of the project<\/p>\n","protected":false},"author":1,"featured_media":89308,"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":[1604],"tags":[296,143,7,171,211,406],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-dewa","tag-energy","tag-enterpriseam-uae","tag-masdar","tag-renewables","tag-solar-energy","wpautop","entry"],"acf":{"mongo_id":"df91dc33-d093-47e4-872e-6dbabf0f06aa","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 PV park","related_issue":[89294],"teaser":"The companies are getting AED 5.5 bn for the 1.8 GW phase of the project","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.2c26f041-edd3-4c47-96cd-5053acf5c83f.mp3"},"yoast_head":"\nDewa and Masdar reach financial close for sixth phase of MBR PV park - 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