Successful financial close of the Al Ajban Solar Photovoltaic IPP in Abu Dhabi
Dentons has advised EDF Renewables (EDFR) and Korea Western Power Company on the successful financial close in respect of the Al Ajban Solar Photovoltaic (PV) Independent Power Project (IPP).
Dentons advised the successful international sponsors on the bid and financing stages of the project, including review of the finance documents from an international sponsor perspective.
Al Ajban Solar Photovoltaic (PV) Independent Power Project will be in the Ajban area of the Emirate of Abu Dhabi. It is a greenfield solar PV plant with a power generation capacity of 1.5 gigawatts (AC) and will generate enough electricity to power approximately 160,000 homes across the UAE.
Sustainability strategy
The project is fundamentally important to the energy transition and sustainability strategy of Abu Dhabi and will play a pivotal role in successfully achieving the sustainability and energy diversification objectives of UAE Energy Strategy 2050, and the UAE Net Zero by 2050 strategic initiative using renewable and clean energy.
EWEC’s strategic investments in solar power have seen it develop Noor Abu Dhabi, one of the world’s largest single-site solar power plants, and Al Dhafra Solar PV, which will be the world’s new largest single-site solar power plant, once commercially operational.
With Al Ajban Solar PV, Abu Dhabi will be home to three of the largest single-site solar power plants in the world, increasing the diversification of the UAE’s energy production portfolio and significantly advancing decarbonisation of the energy sector.
