EnergyWatch

Saudis secure funding for world's largest solar farm

The consortium behind the world's largest solar farm has now secured capital for the project's 950 MW fourth phase.

Photo: Aalborg CSP

Financing for the fourth phase of solar farm Mohammed bin Rashid Al Maktoum is now settled, informs Dubai Electricity and Water Authority (DEWA), Saudi ACWA Power and Chinese state-owned Silk Road Fund in a statement.

The fourth phase entails capacity expansion totaling 950 MW, 700 MW of which will be concentrated solar power (CSP) and 250 MW in photovoltaic panels. The fourth phase investment sum comes to roughly EUR 3.75 billion. The whole facility will have a combined effect of approximately 5 GW in 2030 and, upon completion, have a total price tag of around EUR 12 billion.

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