Abu Dhabi National Energy Company has agreed financing for the UAE’s largest gas-fired power plant which is expected to cost approximately 4.2 billion dirhams ($1.14 billion), the company said on Tuesday.
The Fujairah F3 Independent Power Producer (IPP) project will have a generation capacity of 2.4 gigawatts and is expected to start power generation by summer 2022.
The external funding will be sourced from a consortium including Japan Bank for International Cooperation, BNP Paribas, Mizuho Bank, Sumitomo Mitsui Banking Corporation, Sumitomo Trust Bank, and Standard Chartered Bank, Taqa said in a statement.
