JinkoSolar Signed US$870 Million Financial agreements of Sweihan PV Project in Abu Dhabi

In a signing ceremony held at the Emirates Palace, JinkoSolar signed the financial agreements in place of Sweihan Solar Holding Company Limited for the debt and equity funding of the Sweihan Solar PV Independent Power Project with Abu Dhabi Water and Electricity Authority (ADWEA) and a syndicate of international and local banks.

The agreements closed a US$870 million financing for the Project, an 1,177 MW (DC) solar PV project with a 25-year PPA signed with ADWEA. The Project is expected to reach commercial operation date in April 2019.

ADWEA Chairman, H.E Abdullah Ali Musleh Al Ahbabi said that the Financial Closing is the culmination of 18 months of hard work, determination and commitment from many people, from multiple Abu Dhabi Government stakeholders, the international PV investor market, the international and local lending community and related advisors. He would like to take this opportunity to thank all those involved in making that day’s milestone possible. However that day’s event is just the beginning. Over the course of the next 2 years, the vision of the Sweihan PV Project will become reality.

Jinko Solar chairman, Xiande Li said that the financial closing of the Sweihan Project is an important step-forward to energize one of the largest solar power plants in the world. They will continue to cultivate to the successful completion, operation, and maintenance of the Sweihan project with the highest standard, along with their partners ADWEA and Marubeni.