Masdar, EDF and KOWEPO finalise funding for 1.5GW solar farm in UAE [Yahoo! Finance]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: Yahoo! Finance
The financing for the solar scheme has been secured from financial institutions BNP Paribas, Credit Agricole CIB, the Export-Import Bank of Korea, HSBC Middle East, Standard Chartered Bank and the Sumitomo Mitsui Banking Corporation. Masdar chief executive Mohamed Jameel Al Ramahi stated: “Partnerships are vital to the energy transition and to achieving the objective of tripling global renewable capacity by 2030 set out in the UAE Consensus. “With the development of Al Ajban, Abu Dhabi is home to three of the largest single-site solar plants in the world, making it a global leader in the adoption of utility-scale solar power.” The Al Ajban project is jointly owned by EDF Renewables (20%), KOWEPO (20%) and Masdar (60%). The consortium will undertake the solar plant's design, finance, construction, and operation. The project company signed a 30-year power purchase agreement (PPA) with the Emirates Water and Electricity Company (EWEC). EWEC chief executive Othman Al Ali stat
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Sec Filings
- 11/8/24 - Form 13F-HR
- 10/1/24 - Form 424B3
- SMFG's page on the SEC website