Natixis is supporting* the construction of the largest photovoltaic park in the world, the Sweihan Solar Park, in the emirate of Abu Dhabi. This project fits with the UAE Energy Plan 2050, which aims to increase clean energy use by 50% in the United Arab Emirates.
Major photovoltaic park
With a capacity of 1.17 GW, the facility will produce enough electricity to power around 200,000 households at the lowest cost in the world: US$ 2.94 cents per kWh.
This project is developed by the emirate’s state-owned utility, the Abu Dhabi Water and Electricity Authority (Adwea), with Japan’s Marubeni and JinkoSolar of China.
Natixis, a key player in the financing of renewable energy
Natixis holds a prominent position in the financing of renewable infrastructure in the region, where it has already accompanied some major initiatives in the United Arab Emirates.
The bank took part in the financing of the first solar project in the Middle East, the Shams concentrated solar power station in 2011 in Abu Dhabi (100 MW), and more recently the Dewa III photovoltaic park in Dubai (800 MW) in 2017.
Natixis is the leading arranger of financing for renewable energy assets in Europe and No. 5 worldwide according to the IJ Global 2016 league table, the sector’s leading publication.
This performance illustrates Natixis’ strong expertise in infrastructure finance worldwide: the bank ranks as No. 9 Global Bookrunner and No. 10 Global Mandated Lead Arranger of project finance loans in the 2016 Thomson Reuters league table.
*Lead Arranger, Technical Bank and Hedge Provider of the US$648 million financing out of a total project cost of US$871 million