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Tuesday, 9 January 2018

ACWA Power reaches financial close for three solar power plant projects in Benban

ACWA Power announced it reached financial close for three solar PV power plant projects under the second round of the feed-in tariff program. The three projects have a total capacity of 165.5 MW at a total investment value of USD 190 mn. 75% of the project cost is financed through a non-recourse project debt from European Bank for Reconstruction and Development and Industrial and Commercial Bank of China. The remaining 25% will be coming through equity capital from the sponsors. Construction of the projects will begin in 1Q2018 and are set to begin operations by 4Q2018.

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