Business World of Renewable Energy

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Jinkosolar Announces Financial Close for 1,177 MW Sweihan Photovoltaic Project

Shanghai - Jinkosolar Holding Co announced that 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, Sweihan Solar Holding Company Limited, a joint venture between Jinkosolar and Marubeni Corporation, and a syndicate of international and local banks.

The agreements closed a USD 870 million financing for the Project, an 1,177 MW (DC) solar PV project with a 25-year PPA signed with ADWEA. The Project is expected to reach commercial operation date in April 2019.

“Today’s 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 H.E Abdullah Ali Musleh Al Ahbabi, Chairman of ADWEA. “I would like to take this opportunity to thank all those involved in making today’s milestone possible. However today’s event is just the beginning. Over the course of the next 2 years, the vision of the Sweihan PV Projec

Source: IWR Online, 26 May 2017