March 24, 2019 / 1:04 PM / in a month

Saudi-led consortium, DEWA complete financing for Dubai solar park

DUBAI, March 24 (Reuters) - Saudi Arabia’s ACWA Power and Dubai Electricity and Water Authority (DEWA) said on Sunday they had completed the financing of a 950 megawatt concentrated solar power project in Dubai.

The companies did not disclose the size of the deal in Sunday’s statement but sources told Reuters in January the financing would be more than $2 billion.

The project, called Noor Energy 1, was launched in a partnership between DEWA, ACWA Power and China’s Silk Road Fund. (Reporting by Asma Al Sharif, writing by Davide Barbuscia. Editing by Jane Merriman)

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