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French vitality firm Engie and its associate Masdar have reached monetary shut for the 1.5GW Khazna Photo voltaic PV undertaking within the United Arab Emirates (UAE).
Outfitted with almost three million photo voltaic panels, the undertaking is about to be the most important photovoltaic (PV) set up undertaken by Engie globally.
It’s positioned between Abu Dhabi and Al Ain and is anticipated to turn out to be absolutely operational in 2028.
Financing for the undertaking has been secured from a consortium of seven main banks together with Abu Dhabi Islamic Financial institution and Crédit Agricole Company and Funding Financial institution.
Engie senior government vice-president Paulo Almirante stated: “Reaching monetary shut on Khazna Photo voltaic PV is a serious milestone and underscores Engie’s function as a trusted associate within the Center East’s vitality transition, delivering large-scale initiatives that strengthen vitality provide safety and advance decarbonisation.”
The Khazna Photo voltaic PV undertaking was awarded to Engie and Masdar by the Emirates Water and Electrical energy Firm (EWEC) in October 2025. Underneath a 30-year energy buy settlement, EWEC will procure the output of the photo voltaic facility.
The undertaking goals to provide electrical energy to roughly 160,000 houses and is projected to cut back carbon emissions by greater than 2.4 million tonnes each year.
Khazna Photo voltaic PV additionally represents the primary rollout of a regional cooperation settlement between Engie, PV module provider LONGi, and engineering, procurement and building firm PowerChina.
The partnership brings collectively their experience and sources to develop large-scale photo voltaic initiatives totalling greater than 800MW throughout Saudi Arabia, the UAE and Morocco, whereas increasing their presence all through the Center East and North Africa.
Engie goals to attain a carbon-neutral financial system by the 12 months 2045. The corporate operates throughout your complete vitality worth chain and invests considerably in renewable vitality initiatives.
Earlier this month, Engie secured its first hybrid photo voltaic and battery storage undertaking in India after a profitable bid within the Photo voltaic Power Company of India’s nationwide tender.
The undertaking mixed 200MW of photo voltaic PV capability with a 100MW/600 megawatt-hour battery vitality storage system, enabling as much as six hours of renewable vitality storage and provide.
“Engie secures funding for 1.5GW Khazna Photo voltaic PV undertaking in UAE” was initially created and printed by Energy Expertise, a GlobalData owned model.
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