The Saudi power company has named the lenders which will finance the latest stage of the gargantuan, 5 GW Mohammed bin Rashid Al Maktoum Solar Park, for an estimated $564 million.
Saudi energy company Acwa Power announces $275 million has been borrowed for a project which is due to start supplying electricity to the national utility this year under a 15-year power supply deal.
While global coal mining companies are enjoying the highest prices in years on the back of boosted Asian demand, banks and financiers are increasingly ending their support for coal power. London-based Standard Chartered the latest to stop financing new coal-fired stations.
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