China–UAE News
Dubai’s Noor Energy 1 Completes $2.7 Billion Refinancing Ahead of Schedule
Dubai Electricity and Water Authority has completed an early $2.7 billion debt refinancing for the $4.3 billion Noor Energy 1 solar project. The 950MW hybrid complex involves China's Silk Road Fund as a shareholder and Shanghai Electric as the EPC contractor. The transaction replaces 2019 construction-period debt to lower financing costs during commercial operation.
