Abu Dhabi-based green energy company, Masdar, has secured $615 million of bank financing for a concentrated solar power plant, Reuters reports. Masdar’s partners on the Shams Power Company project, Total and Abengoa, committed equity worth $153 million. Eight foreign banks and two local banks underwrote the 22-year funding. National Bank of Abu Dhabi underwrote $68 million and Union National Bank $41 million of the financing. Masdar has a 60% stake in the project, while the other two companies hold 20% each.
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