ICBC

Abengoa will collaborate with Acwa and the Chinese SEC and ICBC in concentrated solar power projects

Abengoa has signed a cooperation agreement with the Saudi energy company Acwa Power, the Commercial and Industrial Bank of China (ICBC) and Shanghai Electric (SEC), with which it has already carried out the execution of a solar field in Dubai, for collaborate in future energy projects. The declaration of [...]

China-backed $4bn Concentrated Solar Power project set for financial close by August

Developer ACWA Power has now signed key PPA and EPC agreements for the 700 MW plant in Dubai while Chinese partner Shanghai Electric has started optimization activities along the supply chain, project partners told the MENA New Energy 2018 conference. Last month, Saudi Arabia’s ACWA Power signed an Engineering, [...]

DEWA to tender 300-MW concentrated solar power (CSP) by the start of 2019

Dubai Electricity and Water Authority will tender a 300 megawatt concentrated solar power (CSP) plant for the Mohammed bin Rashid Al Maktoum Solar Park before the first quarter of 2019 as the UAE looks to meet 7 per cent of its power needs from the sun by 2020, [...]

Dubai pushes concentrated solar power cost to world’s lowest

In terms of per-unit cost, the new CSP project, valued at Dh14.2 billion, has achieved the world’s lowest Levelised Cost of Electricity (LCOE) of 7.3 US cents per kilowatt hour (kW/h), according to Dewa. The CSP project is expected to provide clean energy to over 270,000 homes in Dubai, estimated [...]

ICBC leads US$1.5 billion loan for Dubai concentrated solar power project

Industrial and Commercial Bank of China (ICBC) has been mandated as lead arranger for a US$1.5 billion senior loan to help finance the fourth phase of the Mohamed bin Rashid Solar Park in Dubai. ICBC will be joined on the syndicate by Bank of China and Agricultural Bank of China. [...]