Synergy Consulting is honored to be the Financial Advisor to the Consortium of EDF Renouvelables and Jinko Power on the 2 GW Al Dhafra Solar PV IPP

Synergy Consulting is honored to be the Financial Advisor to the consortium of EDF Renouvelables and Jinko Power on the 2 GW Al Dhafra Solar PV IPP. Synergy provided financial advisory services including review of Project agreements, raising financing for the Project, finance document negotiation and other related workstreams. The consortium will own up to 40% of the Project company, with the remaining stake owned by Taqa and Masdar. The Project achieved Financial Close on 17th December, 2020. Financing was provided by Bank of China, BNP Paribas, Credit Agricole, HSBC, MUFG, Standard Chartered and Sumitomo Mitsui Banking Corporation. The Project is expected to commence commercial operations in 2022. Once operational, the Al Dhafra Solar PV IPP will be the world’s largest single-site solar power plant, using approximately 4 million solar panels to generate enough electricity for approximately 160,000 homes across the UAE. The solar power Project is in line with the UAE Energy Strategy 2050, which aims to increase the share of renewable energy in the total energy mix from 25% to 50% by 2050.