ACWA Power signs pact for Noor Energy 1

ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants has announced its partnership with the Industrial and Commercial Bank of China Limited, Shanghai Electric Group Co. Ltd, and Spanish company Abengoa, with regards to the 950MW Noor Energy 1 Plant in Dubai, the largest renewable energy project in the world.

ACWA Power is lead developer in the project, while ICBC has established its role as an international lender for Noor Energy 1. (Staff Report)