Cirata is Masdar’s first floating PV project and its first renewable energy project in the Southeast Asian market
The project already has equity bridge loans of $14m from the EBRD and $45m from the APICORP
Construction will be done in phases, starting with the installation of 500 megawatts
The 2,060MW solar plant is set to be developed in Saudi Arabia’s Makkah province
The company will build, own and operate the 500MW solar PV plant and 500MW wind farm in the country
Abu Dhabi already has two solar parks that will have a capacity of 3.2 GW when fully operational
Masdar also signed agreements related to the development of additional clean-energy projects across the country
Beeah will make acquisitions this year to expand businesses including waste management and technology
The plant will start producing power in second half of 2022