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Saudi-led consortium, DEWA complete financing for Dubai solar park

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Saudi Arabia’s ACWA Power and Dubai Electricity and Water Authority (DEWA) said on Sunday they had completed the financing of a 950-megawatt concentrated solar power project in Dubai.

The companies did not disclose the size of the deal in Sunday’s statement, but sources told Reuters in January the financing would be more than $2 billion.

The project, called Noor Energy 1, was launched in a partnership between DEWA, ACWA Power and China’s Silk Road Fund.