Financial agreements for Sweihan PV project signed
JinkoSolar Holding Co., Ltd., announced that in a signing ceremony held at the Emirates Palace, the financial agreements for the debt and equity funding for the Sweihan Solar PV Independent Power Project were signed by the Abu Dhabi Water and Electricity Authority (ADWEA), Sweihan Solar Holding Company Limited. Sweihan is a joint venture between JinkoSolar and Marubeni Corporation, and a syndicate of international and local banks. The agreements closed a $870 million financing for the project, an 1,177 MW (DC) solar PV project with a 25-year PPA signed with ADWEA and it is is expected to reach commercial operation date in April 2019.
“This financial closing is the culmination of 18 months of hard work, determination and commitment from many people, from multiple Abu Dhabi Government stakeholders, the international PV investor market, the international and local lending community and related advisors,” commented HE Abdullah Ali Musleh Al Ahbabi, Chairman, ADWEA.
“The financial closing of the Sweihan Project is an important step-forward to energize one of the largest solar power plants in the world,” commented Xiande Li, Chairman of JinkoSolar.