A consortium of Marubeni Corporation and JinkoSolar reached financial close on 18 May 2017 for the 1,177 MW solar PV project located in Sweihan, located approximately 120km east of Abu Dhabi in the UAE.
The winning consortium, comprising JinkoSolar and Marubeni, will construct, operate and maintain the Sweihan Solar PV plant for the duration of the 25-year power purchasing agreement. Upon the commencement of operations in 2019, all electricity generated will be sold to the Abu Dhabi Water & Electricity Company, a wholly owned entity of the tendering authority, the Abu Dhabi Water & Electricity Authority.
Operis were pleased to undertake an audit of the financial model on behalf of the consortium and the lenders, which including a review of the model’s tax and accounting treatments.
