EDF Renewables, Jinko Power reach financial closing of world’s largest solar project

EDF Renewables, Jinko Power reach financial closing of world’s largest solar project

SHANGHAI — The consortium, formed by French EDF Group subsidiary, EDF Renewables and Chinese Jinko Power HK, subsidiary of Jinko Power Technology Co. Ltd, both global leaders in renewable energy, have successfully reached the financial closing for the 2 GW Al Dhafra PV2 solar project in Abu Dhabi, United Arab Emirates.This operation has been completed along with TAQA Group and Masdar, the Abu Dhabi-based shareholders and major players in the electricity and renewable sectors.The approximately $1 billion transaction has been funded via project financing with BNP Paribas as bookrunner together with Bank of China, Crédit Agricole, HSBC, MUFG, Sumitomo Mitsui Banking Corporation and Standard Chartered, as mandated lead arrangers.Completion of this major milestone allows the mobilization on site and start of construction. Located in the region of Al Dhafra, this solar photovoltaic plant will be the largest single-site solar plant worldwide.Al Dhafra PV2 solar project will be the first plant of such scale to deploy bifacial module technology, capturing as such light on both sides of the PV modules and thus benefits