Middle East Economic Survey

VOL. LIII

No 37

13-Sep-2010

UAE

Bank Funding Worth $600Mn Sought For Shams 1 Solar Plant

Bank funding totaling $600mn is being sought for Abu Dhabis Shams 1 solar plant. It is sponsored by Abu Dhabis Masdar (which is owned by state conglomerate Mubadala), with Frances Total and Spains Abengoa Solar winning the mandate to develop the project under a build-own-operate contract in early June. The project is seeking $600mn and total costs are pegged at around $700mn. With a...