Mohammed bin Rashid Solar Park Phase Four Refinancing

Dubai Electricity and Water Authority (DEWA) successfully completed the refinancing of the fourth phase of the Mohammed bin Rashid Solar Park worth $2.7 billion ahead of schedule, aiming to improve financing costs and strengthen the project's financial structure. The Noor Abu Dhabi 1 project is the largest of its kind worldwide in concentrated solar power technology, combining photovoltaic and concentrated solar techniques with storage capacity of up to 15 hours. This ensures Dubai is powered with clean, reliable energy day and night. It is a vital part of Dubai's 2050 Clean Energy Strategy. Officials expressed strong confidence from the financial community in the project, confirming that the refinancing has contributed to reducing costs and enhancing the project's financial resilience in the long term.

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