(MENAFN) Funding of phase four of the Mohammed bin Rashid Al Maktoum Solar Park is finalized, announced Dubai Electricity and Water Authority (DEWA).
DEWA completed the financing of the 950 MW fourth phase alongside a consortium led by Saudi-based ACWA Power and China's Silk Road Fund.
According to projections, the massive solar park will have a production capacity of 5,000 MW in eleven years with USD13.61 billion of investments.
CEO and managing director of DEWA Saeed Mohammed Al Tayer stated "this phase is the largest single site investment project in the world."
Al Tayer added that "[it] will provide clean energy for 320,000 residences and reduce 1.6 million tonnes of carbon emissions annually."
MENAFN2503201900450000ID1098299215
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.