May 24, 2017 / 10:28 AM / 3 months ago

Abu Dhabi closes $872 mln solar plant financing

ABU DHABI, May 24 (Reuters) - Abu Dhabi's government-owned power utility has closed a 3.2 billion dirham ($872 million) financing package for a solar power plant, which will be the world's largest, the utility's top official said on Wednesday.

Abu Dhabi Water & Electricity Authority (ADWEA) raised $650 million in debt with the remaining $222 million raised in equity, Director General Saif Saleh al-Sayari told reporters.

ADWEA previously said it had selected a consortium of Japan's Marubeni Corp and China's JinkoSolar Holding to build and operate the 1,177 megawatt plant. (Reporting by Stanley Carvalho, writing by Alexander Cornwell; editing by Jason Neely)

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