Abu Dhabi poised to construct the world's largest solar farm

The financing for the USD 872 million solar farm is close to finalization, according to Abu Dhabi's state-owned utility.

Totalling 1.177 GW, the future solar farm will be the biggest in the world and the funding for the project is now settled, says Abu Dhabi Water & Electricity Authority, ADWEA, according to Reuters.

In total, the farm will cost AED 3.2 billion (EUR 820 million) to construct. The financing will consist of ADWEA supplying 25 percent of the capital while the remaining 75 percent will be debt, lent from local as well as international banks. It is expected that financing will be finalized by April.

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