Mott MacDonald, a global management, engineering and development consultancy, has closed a $600 million financing deal for the Shams 1 project, a 100 MW concentrating solar power (CSP) plant being developed in Madinat Zayed, approximately 120 km southwest of Abu Dhabi in the United Arab Emirates.
According to the company, the deal is the largest solar project transaction in the world to date and combines financing from 10 regional and international lenders. The CSP plant is being developed and built and will be operated by Shams Power Co., a joint venture between Masdar (60%), Total (20%) and Abengoa (20%).
Mott MacDonald says that its role to date has included reviewing the project participants, site design and performance model, as well as the technology, environmental conditions and financial model. The consultancy will also be monitoring construction and operations at agreed stages.
SOURCE: Mott MacDonald